Dear Turbo Tax team,
During tax year 2023, I made my former home available for rent. I lived in the home for 20+ years and made numerous repairs and improvements through the years and prior to 2023. I also made repairs and improvements during 2023.
- On the “Repair” and “Improvements” screen in Turbo Tax (see first two screenshots below), am I to enter all repair and improvements that occurred only during the tax year? Or, …
- Am I to include the costs of any repairs and improvements, such as replacing the roof, replacing the windows, installing a geothermal HVAC system, made prior to the tax year?
- If repairs prior to 2023 should be entered, should I not go beyond a certain number of years back in history when calculating the total repairs? In other words, if a repair was made ten years ago, should it not be listed?
There are screens that appear later in the program’s information collection process that ask about tax year-specific “Assets” and “Improvements.” (See last four screenshots below.")
However, these screens combined with the previous screens seem confusing given the lack of context of the first screens and the lack of direction regarding how many years back one can go when listing repairs, assets and improvements.
Thank you for your assistance. Blessings!
