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Business & farm
Trouble! I clicked on the dot that says we converted from a Rental to Personal use, as I was directed. Then there were two screens about passive losses carried over from 2021. Then there's a screen that asks whether this property was rented all of 2022. I'm not sure whether I should answer Yes to No. I think it's still asking about the property *before* "we converted to personal use" (but we didn't actually... we "converted it" on the morning of Jan 1, 2022 and then we converted back to a rental as a partnership on the morning of Jan 1, 2022 (i.e. we instantly converted it from passive self-employment income to passive partnership income). I'm just trying to get TT to set up the Schedule E properly so that I can add the information from the two K-1's into it. The K-1's already account for depreciation and days use as a rental and everything else. I will have to print this out and send it via paper, so that I can attach the 1065, 8825, 4562, and two K-1's to my 1040 and Schedule E (and a Schedule C from another business, which really *is* a sole proprietorship).
So what answer do I give?
I'm afraid that I'm going to have another question on the very next page... ugh! I wish I'd never created the partnership!
Thanks for your help.