HappyDayAgain
Returning Member

How to convert a duplex rental unit to primary residence after 19 years showing as one property in Turbo Tax? CPA began it as one property.

After 19 years of renting both sides of our duplex, one side became our primary residence in August 2020. Our CPA set the rental up as a single property with both addresses showing for the property as "A" and "B" all those years ago. All through the years, I have simply combined the incomes and expenses for the property reporting and all seemed to work just fine. Now, I know the personal side needs to be reported for personal use as our primary residence.  I don't know whether I should try to separate this property into two different properties within Turbo Tax by dividing the depreciation between the two or if it can be done this way in Turbo Tax. How do I show this property as two separate addresses at this point?  Any help on this topic would be greatly appreciated.