I am confused as to what dates I should use on a couple of screens in TurboTax regarding my rental space in my home. I purchased my home in December of 1996. In 2015 I added a bathroom and closet in the basement to prepare it to rent it (there was already a bedroom and den). The bathroom and closet were completed on 10/25/15. I also bought a washer and dryer on 10/02/15 a refrigerator on 10/01/15 and a stove on 07/02/16 for my tenants to use in the workshop area. My renters actually moved in on 10/17/15. They moved out and I converted my basement to personal use on July 2, 2017. I want to make sure I am using the correct dates because I know that the assets stop depreciating when it is converted to personal use.
I am using TurboTax Premier. What dates do I use for the "Placed in Service Date" for the appliances - do I use the date I actually purchased them ( which is a few days before I actually rented for the first three appliances, or the date I actually started renting the basement and what date do I use for the basement rooms/improvement itself? Do I used the date the additions/improvements were completed or when the tenants started renting?
On the "Disposition Information" screen what date do I us for the "Date Acquired" for the basement rooms/improvemet? Is it the date I began renting it, or when the improvement/addition was actually completed, or the date I initially purchased my home since it already had two rooms in the basement when I bought the house? Likewise, what date do I use for the "Date Acquired" for the appliances on this screen? Is it the date I actually purchased them or the date I started renting to my tenants?
