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Rental property and depreciated improvements
I have not rented my property for some time. First due to extensive repairs and updates. Then a bad applicant scared me into just sitting tight. Then a huge tree fell on the garage during an incredibly hard storm. Then covid19 and Landlords being unable to collect rent. I depreciated the necessary updates the first year, but after that, since I was making no effort to rent it, have not listed anything on my taxes for the property. Is this the proper way to handle taxes on what used to be a rental?
‎April 2, 2021
10:04 AM