1) if I put my townhome that I lived in on the market in April 2019, however, it did not rent until June, which date do I put as when the home was "placed into service"? April.
2) turbotax asks me during the deduction process what the rental business purpose is and gives options as "single family home" and "duplex or multi-family home" and other options. For this, would I elect the single family home option for my townhome? single family home
The trickiest part of the interview is understanding what "personal use" is ... read the screen carefully ... once the property has been converted to a rental it becomes a separate entity and what happened prior to the conversion is immaterial. The program will offer to prorate the personal/rental common expenses but it may be easier to do this yourself.
