MarilynG1
Expert Alumni

Investors & landlords

Are you preparing a 2018 return?  In the Rental Section, under Property Profile and Assets/Depreciation, you should have three rental properties set up.  

 

For Unit 1, Indicate that it was 'rented all year'.

 

For Unit 2, indicate that you 'converted it to personal use' in May.

 

For Unit 3, indicate that you 'converted it to personal use' in October. 

 

You can enter the full year expenses and TurboTax will calculate the appropriate % for the time the unit was available for rent (for depreciation also).

 

Any Capital Improvements can be depreciated, if you decide to rent the property again later.  Add the cost as a Rental Asset for that unit.

 

Click this link for more info on Capital Improvements and Depreciation. 

 

 

 

 

 

 

 

 

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