I converted my home into a rental unit between August 2021 and June 2022, while I lived abroad. Upon my return, I converted it back into my home. I took depreciation for my rental in 2021 and I now need to stop it for my 2022 taxes. The problem: when I enter the date of when I stopped using my home as a rental in TurboTax, it gives me a crazy depreciation amount that results in a significant loss in rental income (instead of any gain). This just doesn't seem right. How do I stop depreciation correctly?
At the same time - I also have a home office and usually take a depreciation deduction for it. I stopped taking the deduction while abroad, and plan to re-start this for the months I've lived here in 2022. How should I enter the stopping and resuming home office depreciation in TT, in a way that TT knows that I have taken such depreciation before? Thank you in advance for your help.
