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Updated over 2 years ago,
Primary residence to rental : what date is used for tax purpose
Hi
I moved out of our primary residence on May 30.
Interior painting and carpet repair was done on May 31, June 1st - costing $2000
It was advertised as rental on June 2nd.
Lease with tenant started on July 1st.
What date will be considered for depreciation calculation?
What date will be considered for the capital gain exclusion? (when the property is used as primary residence for two out of the five years immediately preceding the sale)
Can 2000 be deducted as rental expense?