gloriah5200
Expert Alumni

Investors & landlords

You would be placing in service a rental property as of the date it was available to be rented.  Then, you would be taking it out of service as a rental and changing it to your principal residence as of August 2020.  

 

There seems to be confusion in the note you sent as to how you could buy it in Feb 2020, rent it in May 2020 through the remainder of the year, yet, have you move in on August 2020?

 

I am assuming you actually bought the house in February 2019 and the tenant moved in May 2019 and lived there the remainder of the year and the first part of 2020 until August 2020, when you changed it from being a rental property and changed it into a principal residence.