Solved: I sold my rental on 12/2017, but escrow closed on 1/2018. Do I have a choice of what year I claim capital gain on?
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Level 2

I sold my rental on 12/2017, but escrow closed on 1/2018. Do I have a choice of what year I claim capital gain on?

I sold my rental on 12/2017, but escrow closed on 1/2018. Do I have a choice of what year I claim capital gain on?

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Level 15

I sold my rental on 12/2017, but escrow closed on 1/2018. Do I have a choice of what year I claim capital gain on?

The date the sale actually closed and you got your money and the title transferred to new owners is when you need to report this.

It appears from the question, that this is 2018.  

Which might be better for you anyway as tax rates are slightly lower. 

View solution in original post

1 Reply
Level 15

I sold my rental on 12/2017, but escrow closed on 1/2018. Do I have a choice of what year I claim capital gain on?

The date the sale actually closed and you got your money and the title transferred to new owners is when you need to report this.

It appears from the question, that this is 2018.  

Which might be better for you anyway as tax rates are slightly lower. 

View solution in original post

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