I sold a rental property that I held for about 5 years. All the tax filings used Turbo Tax for income, expenses and depreciation each year. Several questions.
1. There was no rental income this year. When we finally got the tenant out we have significant expenses to clean and repair the unit. Should all these expenses be deducted as "expenses" or taken against the sale of the property.
2. Similarly, are the costs associated with the sale - commissions, closing fees, et al taken against the sale proceeds?
3. Lastly, since I used TT each year is the prior years depreciation automatically calculated?
