After your tenants moved out in May, if you didn't try to rent the home out again, you should say your rental use ended when they moved out. If it was available to rent out, your rental use ends when you stopped trying to rent it out.
The remaining time in 2021 that you owned it would be personal use, but not your personal residence.
The depreciation for 2021 should be recaptured as well. All of these calculations will be done automatically if you report the sale in the Asset section of the rental section.
Here is how to get to that section of your tax return:
- Select Federal from the left side menu.
- Select Wages and Income toward the top left
- Scroll down/ expand the list and look for Rentals and Royalties.
- Expand that section and find Rental Properties and Royalties (Sch E).
- Click Edit on the right.
- You should see a screen with, Your 2021 rentals and royalties summary, Click Edit to the right of the property that you sold.
- When you get to the screen that says, Here's Your rental property info, scroll down to Assets and click Edit to the right of the property.
- In this section you can report the sale of the rental.
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