Yes, that is the proper way to report a converted home to a rental. Under the Property
Profile section, indicate that you converted the property from
a personal to rental use (or vice versa) in 2017. Then continue on to enter the number of days it was rented. Allocate the interest/property taxes between the 2 sections.
Allocate the expenses between the two sections if you converted the
property. Ex: Rented for 3 months and personal for 9, then 1/4 of mortgage
interest/taxes is deducted on the rental side and 3/4 as a personal deduction.
Note: Personal Use days refers to days that
you used the rental. Enter 0 if you never used the
property while it was rented.
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