Question
Rahul purchased a rental house on February 14 of last year. It was vacant when he bought it. He decided to paint the interior and
Rahul purchased a rental house on February 14 of last year. It was vacant when he bought it. He decided to paint the interior and install new carpeting before showing the property to potential tenants. The work was completed on March 18. That same day, Rahul put out a vacancy sign and began showing the property to prospective tenants. He received a signed lease from a new tenant on June 30, and the tenant moved in on August 15. For depreciation purposes, what is the date Rahul placed this rental property in service?
February 14.
March 18.
June 30.
August 15.
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