MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Actually, you can remove the Rental details in your 2022 return when you indicate you 'converted to personal use' and a date in the Property Profile section and the Assets/Depreciation section.

 

Make note (or save forms/worksheets) showing Depreciation claimed (and unused) for the House and any Improvements you were depreciating.

 

When you sell the rental property later, the sale is entered as the Sale of Business Property, where you will be able to add Sales Expenses to your Remaining Basis to determine gain/loss. 

 

You should go back and Amend your 2022 return, as you probably claimed rental income/expenses/depreciation for part of the year prior to the conversion and then transfer your amended 2022 return into a new 2023 return.

 

 

 

 

 

 

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