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Get your taxes done using TurboTax
it was a rental from 2010 thru 2019. it sat there empty (i worked on it) for a year 2020. i did not try to rent it as i was working on it although rather slowly. i finally sold it in 2021. for the 2020 tax year i told TT that "I converted this property from a rental to personal use in 2020" and I dated the conversion date 1/1/2020 (although i did not live in it one day, therfore I thought I was treating it as a 2nd home instead of a rental). as a result for 2020 my depreciation amount was $432 whereas my depreciation amount for 2019 (when I was still renting it out) was $8109.
March 12, 2022
10:36 AM