I sold a rental house in October 2020. I have kept track of all the expenses, cost basis, etc...so we're good there. My question is what do I select when I get to the "Was this property rented for all of 2020?" page in TurboTax? The property was not rented all year so my gut feeling says to select the "No, this property was not rented all year" option and then fill in the days rented at a fair rental price (279) and days used for personal use (0). This option seems reasonable.
But, there is also a note on the screen that says, "Note: if you only owned the property part of the year, then let us know if it was rented the entire time you owned it". This statement is also true, so should I pick the "Yes, this rental property was rented all year" option instead?
The first option seems more accurate since it wasn't rented for all of 2020; but I definitely owned it the entire time it was rented...which lends itself to the second option. Does the term "year" refer to the entire calendar year (in which I obviously didn't since I sold it in October)...or does "year" refer to the timeframe in which I owned the property?
