ThomasM125
Expert Alumni

Investors & landlords

You don't need to pay back any of the depreciation you were allowed on the property in the current year, assuming you didn't claim any bonus or section 179 depreciation in the current or previous years. It will be used to decrease your cost basis in the house which will increase your gain on sale of the property, so it could affect your tax return when you sell the property. 

 

You don't need to do anything more that indicate that you converted the property to personal use in TurboTax.

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