Carl= Thank you so much for helping me in July 2020 towards obtaining estimate of 2020 taxes.
Now that I am in final stages of 2020, last question.
FACTS= My rental property was renovated & completed last part of 2019 but always available for renting. Jan 2020, rental fully available & in move-in condition, advertised for rent or purchase up to sold date. Although, rental income -$0-, improvements & repairs (after renovations) occurred. Sold fully depreciated property June 2020.
2 QUESTIONS= Can I utilize the Safe Harbor option which appears to allow expense of improvements if $2,500 or less to expense? All improvements individually were $2,500 +/-. Bottom line, can't property be treated as active rental as long as it is advertised for rent or purchase?
