Investors & landlords

this is not a situation that Turbotax will be able to handle. yes it goes on schedule e for 2022 but the issue is transferring the assets and depreciation from schedule C to schedule E. 

 

the home office in 2021 should have been depreciated over 39 years. but now that it's not used in that manner in 2022 it gets depreciated over 27.5 years. also when a B&B only a portion was depreciated over 27.5 years, now 100% is eligible. 

 

it may be doable but in essence you would need to enter 3 assets. the home office part, the B&B part and the rest of the condo excluding land cost, if any.  there's still a debate as to whether you purchase a portion of the land when you purchase the condo.