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Deductions & credits
Thanks for the reply! I used Turbo Tax Live last year since my situation was unique. What was unique is that I purchased a home in May 2021 that I immediately rented out for 3 months. I then moved into the home. The Turbo Tax form options for a rental didn't apply to this scenario (rent first, then move in during same year) but the agent eventually figured out how to input this so it showed the correct depreciation for those 3 months. A couple questions to confirm this was done correctly in 2021:
1) On Schedule E, it correctly shows this property as having 83 fair rental days and 0 days of personal use. On Form 4562 on line 19h it correctly shows that it was placed in service on 5/21, has the correct basis for depreciation, and shows the correct deduction in column g. Where can I tell in my past year's return if this was changed from rental to personal use?
2) I've already deleted this property in the "2022 rentals and royalties summary". I went through the guided options and it told me to delete it since it wasn't rented at all in 2022. If I'm supposed to keep showing this in the rentals summary, is there a way to bring it back into the form using my 2021 inputs? Also, this is now my primary residence, am I supposed to show this in the rental summary every year going forward even though I'm not renting it? Thanks!