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Investors & landlords
Go back through your property profile and make sure you enter 100% for business use. In the first year of conversion, some want to prorate that, but it is asking for the business use percentage after you converted it. Also, make sure you entered 0 personal use days - same issue here, TurboTax is asking for personal days after you converted it. Days Rented should be the number of days left in the year from the 'placed in service date' (the date it was available to rent). Most of the time, the depreciation calculation issue in the year of conversion stems from one of those entries. @samantha28
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‎February 9, 2023
7:59 PM