Its weird, to me anyways, to have to check both 'I converted to Personal' & 'I converted to business' in the rental profile section every year for the style of rental I have. Seems so dramatic.
Just be aware there's more to it than that. Each time you covert back to rental, you have to correct the cost basis by subtracting the prior year's depreciation from that cost basis, and starting depreciation anew with the new, lower cost basis.
Like I said before, the turbotax program can not "correctly" handle such a situation and requires manual math on your part. It's a real pain when you covert to personal and back to rental in the same tax y ear, because you have to enter the conversion back to rental as a completely new rental asset each and every year you do that. Anything else, and your tax returns for all those years will be wrong. Sooner or later, the IRS will catch up to that - most commonly in the year you sell or otherwise dispose of the property.
