I would like to know how to handle this scenario in Turbo Tax.
We bought a new house in 2022 to serve as our primary residence. The house was being rented out by the sellers and the lease ran out 7 weeks after closing. We were given the part month rent and the security deposit at closing.
We collected rent for the final month and returned the full security deposit after the lease was over (they were really good tenants!).
I entered the rent collected as income from the rental property but then it seems like quite a bit is being depreciated for the less than 2 months of renting. Also, doesn't this run afoul of not renting a primary home occupied for less than 12 months?
Thanks!
