My tenant moved out in March 2019. There was substantial damage and it took me a year to get the property fixed and ready for rental. I tried renting it in March 2020 but wasn't able to get a tenant into the property due to COVID concerns etc. I can't support the rental any more and listed the property for sale in October 2020 and it closed in January 2021.
For 2019, I filed the taxes as it was a rental. What would I do in 2020 since it was a rental and then personal use because I didn't rent it out for a day? Do I claim it as personal use and write off the mortgage in itemized deductions?
How and when do I claim the improvements/remodelling done since I paid most of the expenses in 2020? Do I add the amount to the cost basis on my 2021 taxes?
Thanks so much for your assistance.
