@AmandaR1 . Thanks for this explanation.
Does this apply if the property is new to us and has never been rented before? We purchased a property in November 2021, immediately spent about 4 months fixing it up, during which time it was vacant, then rented it in starting in March 2022. I am wondering if I should set up the Schedule E for this property in my 2021 filing or wait until 2022? Thank you!
