I purchased a rental property in 2018 and immediately did rehab/capital improvements on it costing me $24k.
I took depreciation on those rehab/capital improvements in 2018 and 2019.
The property was rented from 2018 to 2020.
In 2020, after the tenants moved out, I did additional rehab/capital improvements costing me $80k, then I immediately sold the property in 2020.
The 2018 rehab/capital improvements ($24k) were obviously included with the sale of the entire house.
1. In Form 4797, Part III, when inserting the 2018 rehab/capital improvements, what do I input for [Line 20: Gross Sales Price]?
