Hi, I had one small primary condo A and bought a bigger condo B in Aug 2022. I moved into condo B as primary and rented out condo A at the same time (started collecting rent payments from the tenant) on Setp 15, 2022.
Questions:
- Do I have to report the condo A as an investment property for 2022?
- If yes, since condo A was still our primary residential property until Sep 15, 2022, how should we handle it? By percentage?
- If by percentage, does it mean I need to split the mortgage interest & property tax to normal residential vs investment property?
- Where TurboTax will handle this case?
- To make it easier for this year, can I still claim condo A and condo B as normal residential (primary and secondary) properties in 2022, if the tenant is actually my relative/close friend and no strict contract/lease?
Thanks, TurboTax.
