This figure is likely coming from the rental asset(s) depreciation. For 2023, you must go through each asset, indicate it was converted to personal use and enter a date of January 1st, 2023. There will still be a small amount of depreciation for 2023 (half a month) and then the property will be completely removed for your 2024 tax return.
When you are in the rental activity for 2022, you must select the 'Assets' section, then in each asset you must go to the screen titled 'Tell Us More About This Rental Asset'.
- Once you reach this screen for each asset, you must select 'This item was sold, retired, stolen, destroyed, disposed of, converted to personal use....'
- Next enter the date you stopped using the asset for rental purposes. And answer 'Yes' you always used this asset 100% of the time for business. (The percentage of use doesn't change until after conversion from rental to personal use.)
- Select 'Yes' for Special Handling due to 'You converted the asset to 100% personal use.'
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