Homework SourseMarie purchased a rental house on March 1 of last year it wa
Marie purchased a rental house on March 1 of last year it was vacant when she bought it she decided to paint the interior and install new carpeting be shipped for showing the property to potential tenants of the work was completed on April 11 that same day Mary put out a vacancy sign to begin showing the property to prospective tenants she received a signed lease from the new tenant on May 20 what is the date Marie place this rental property in service
Marie purchased a rental house on March 1 of last year it was vacant when she bought it she decided to paint the interior and install new carpeting be shipped for showing the property to potential tenants of the work was completed on April 11 that same day Mary put out a vacancy sign to begin showing the property to prospective tenants she received a signed lease from the new tenant on May 20 what is the date Marie place this rental property in service
Solution
Date of putting rental property in service is the date on which vacancy sign is displayed. This is because the house is then ready to be occupied by a prospective user.
Placed in service means when the property is made first ready and available for occupation by any prospective buyer.
