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Sale of vacant rental property
Rented property for 10 years.
- Ended lease September 2021
- Property vacant while being renovated from October 2021 to April 2022, when it was sold.
- Questions
- Should I consider it converted for personal use starting January 1, 2022?
- OR can I still call it rental property for 2022 but note that there was no rental income, no rental expenses and include the renovation costs in the cost basis calculation?
- Where do I include the renovation costs to the cost basis for the sold property?
‎February 19, 2023
12:18 PM