If you did not do so on your 2015 tax
return, you need to show that you converted the rental property to personal
use.
This will
stop the depreciation of the property.
You will also need to go through
all depreciating assets to show that they have also stopped being used for
business purposes. If you did not do
this on your 2015 tax return, you can show it on your 2016 tax return by making
the change as of 1/1/2016.
There is a check-box
in the rental section of your return to indicate that you have converted the
rental property to personal use during 2016.
When you go to your rental section of the return, Edit your property information. Then Edit
the Property Profile. Move forward through the screens until you
reach the one with the title, “Do Any of
These Situations Apply to this Property?”
Find the check box under Converted
for I
Converted this property from a rental to personal use in 2016.
