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January 30, 2024
Question

sale of rental prooerty

  • January 30, 2024
  • 1 reply
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I sold my rental property last year 2023, bought in 2008, had no rental income in 2023, is it better to add the sale to the rental section or the Sale of business property ??? PS I am a full time real estate broker and part of my yearly income was in managing the rental..

1 reply

January 30, 2024

If the property was not available to be rented in 2023, then you should not report rental expenses for that year. You would report it as a sale of business property. 

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