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How to report the relinquished rental in divorce
My client held a rental for half of the year and then had to relinquish it to their ex wife. I have reported the rental as sold with no gain or loss on disposition to remove the rental property. My question is a restoration that was done in 2018 before the property was relinquished. It was a $6,000 expense. Can I report it as sold with the $6,000 loss? What is the best way to handle this?
