Hello, I am very confused at how to file my taxes this year. I have owned a Duplex (with two separate addresses) since 2017. Previously, I have always lived on one side and rented out the other. In 2023 we bought a Single Family home in August and moved into it. We then put that side up for rent and someone started renting it out in October.
Do I have to choose the option that I "Converted a Home to a Rental?" If so, do I do that for both addresses?
Because the other option is "Rented a unit in a Multi-unit where you live" and that isn't the case anymore either.
Under Schedule E (Rental Properties and Royalties) should I be filing the addresses as two separate properties? Also, if I do that, should I choose 'Single Family' for each or 'Multi-Family?' They have the same taxes, interest, and mortgage insurance premiums. Myself and my partner own the property together (we are not married.) Do I need to put that I'm only a 50% owner? We live together and have children together.
This is very confusing for me, please help!
Thank you,
-Stephanie
