its in my PM messages to you, not the regular threads. it was last week of March 2021. one of your messages states, stated
"What I suggest you do on your 2020 taxes since you did not rent it again after the last tenant vacated in 2019, is that you convert the property to personal use on 1/1/2020.
Now the program has a "quirk" where you have to enter "something" for rental income - even if that "something" is the digit zero. So enter zero for rental income.
Then, don't bother even working through the rental expenses section, as you can't claim/deduct anything on SCH E since you reclassified it as personal use property on 1/1/2020.
Next, in the assets/depreciation section DO NOT enter any of your property improvements here. I'm talking about all the new appliances, floors, carpets, etc. There's no need. it's just a waste of time since your improvements can not be depreciated anyway, since they were never placed "in service" as a rental asset.
But you do need to work through any assets that are already there to convert them to personal use. At an absolute minimum, you will have at least the property itself listed there.
So start working it through and on the screen for "I stopped using this asset in 2020" click YES. Then enter the disposition/conversion date of 1/1/2020.
On the "Special Handling require?" screen, you *must* select YES. If you select NO, then you will be *forced* to enter sales information. You don't want to report the sale in the SCH E section. You want to report the sale in the "Sale of Business Property" section, so that you can include in your cost basis, the amounts you paid for the qualified property improvements.
When you get that done, post back and let me know the number of assets you have listed in the assets/depreciation section."
now I see you do not recommend that move but i already did it for 2020 return.
