I purchased a rental property in 2021 with a few other people, and we have not yet started renting it out. Do we report the purchase of the property on schedule E or do we wait until we start renting it out? I understand we cannot record rental expenses until we start renting it out, so I am simply asking if we should record the purchase on our 2021 1040 schedule E, or should this be done in 2022 assuming we start renting it in 2022..
