If you moved into your rental and made it your personal residence in 2016, you need to divide up your expenses. Identify the expenses you incurred while it was a rental versus the expenses you incurred while it was your home.
In order to indicate that within TurboTax, please see the following:
- Federal Taxes
- Wages & Income
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Rental Properties and Royalties
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Review You __Rental Summary
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Property Profile, Click Update
- You will continue until you see a screen that states "Do Any of These Situations Apply to This Property?"
- You will look for the Converted section, check the box, I converted this property from a rental to personal use in 2016
Please see the attached photo.
