Rental renovated 6 months prior to sale

[Margaret CPA in OH]

Client had rental vacated in July 2017 so decided to leave vacant and renovate for sale.  Sale took place in February 2018. In January 2018 I had the total for the renovations paid in 2017 and booked but did not depreciate.  However I did not dispose (or take out of service) the earlier building costs for 2017 as they were going to rent again if it didn't sell. In ATX was there a better option to choose for 2017 with knowns/unknowns?  Is an amended return required?  What normally happens when a rental is removed from service for a period of time?

 

[Margaret CPA in OH]

Nevermind - I just looked again at that 2017 return and actually did it correctly depreciating everything for just a half year but didn't dispose as waiting for the sale.  Yay, me!  Note to self - do a better job of reviewing situation before asking already answered questions.

[Catherine]

On 2/10/2019 at 6:07 PM, Margaret CPA in OH said:

Note to self - do a better job of reviewing situation before asking already answered questions.

As if we ALL have not done that exact same thing from time to time.  I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases.  But the memory retrieval is not activated until after you hit "send."  

[Catherine]

On 2/10/2019 at 6:07 PM, Margaret CPA in OH said:

Note to self - do a better job of reviewing situation before asking already answered questions.

As if we ALL have not done that exact same thing from time to time.  I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases.  But the memory retrieval is not activated until after you hit "send."  

[Catherine]

On 2/10/2019 at 6:07 PM, Margaret CPA in OH said:

Note to self - do a better job of reviewing situation before asking already answered questions.

As if we ALL have not done that exact same thing from time to time.  I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases.  But the memory retrieval is not activated until after you hit "send."  

[Margaret CPA in OH]

Now that's funny - triple posting the reassuring reply. Ah, the memory retrieval thing - it gets increasingly weak these days.