I had a residential rental, purchased in 2015 that I moved into in August 2023. On my 2023 return, I depreciated about 8/12ths of the annual depreciation amount.
In 2024, I converted the unit back to a rental in October. So it seems I should get about 2 months depreciation (or maybe 1 1/2 months if using mid month convention), but I cannot figure out how to get turbo tax to calculate this.
Under the property info, i checked the box for "converted from personal use to rental, and put 61 days rented at fair rental price and left personal use days blank.
The individual asset is listed at 100% business use.
I cannot figure out why is is giving me so much depreciation expense.
In addition to the building asset, there are some land improvements, 15 year straight line. Not sure what to do with these.
