Help with rental sale

[Idealsol]

I sold a rental in 2025

I have not finished my 2024 taxes

Could you help with how I should file for 2024

- The house was unrented in all of 2024 and it was not on the market to be rented all of 2024

- There were substantial repair and fix up costs in 2024

- the rental was rented from 2014 - 2023

I've read I should NOT take depreciation for 2024 and treat all expenses as an adjustment to basis

Is that correct. If so, how would I report that when doing my 2024 return

Thank You

[Carl]

Since you did not rent or attempt to rent the property at all in 2024 you should show/indicate in the program that you converted it to personal use with an effictive date of Jan 1, 2024. That will stop depreciation on that date. You'll also have to work through each individual asset in the assets/depreciation section to show that each asset listed was converted to personal use on that same date also. This will stop depreciation. Note that some items will show a small amount of depreciation, and that's okay, as rental property depreciation is based on the mid-month convention. Not the beginning of the month. 
You'll still show all rental income/expenses incurred for 2024, which will be zero on all counts of course.  Any property improvements done in 2024 will not be listed/entered/shown anywhere on your 2024 tax return either since the property was never rented after those improvements were done. But you'll save all that paperwork showing the expenses, as you'll need it when you report the sale on your 2025 tax return next year. 
After your return has been filed (by mail I presume this late in the year) you'll need to print out a few forms from the 2024 return, as they have information that you will definitely need for reporting the sale on your 2025 tax return next year.
IRS Form 4562 - There are three of these for each rental property you own. You need the two that print in landscape format. One is titled "Depreciation and Amortization Report" and the other is titled "Alternative Minimum Tax Depreciation Report"  Print and save both as you'll need them for the 2025 taxes.
IRS Form 8582 - Passive Activity Loss Limitations  If you have any carry over losses from prior years this form will show those losses. You will need this information to report your losses on your 2025 return when you report the sale next year. Note that it's perfectly possible this form may not be present in your 2024 taxes. Due to changes in tax law several years ago you very well may have been allowed to claim up to $25K of rental income losses from other ordinary income and very well could have already clamed and used up all those losses in prior years. So no big deal if the 8582 isn't present. 

Note that next year you will not report your sale in the rental section of the program. But don't need to deal with that until next year. 

[Idealsol]

Thanks Carl. I truly appreciate your detailed reply

-Rick