BJB61
Returning Member

Conversion of rental property to personal use

Property was converted from rental to personal use on 4/30/22.  Turbo Tax premier is calculating proper depreciation for partial year and there is small net rental income after expenses for the year.  It is also showing a disposition of the rental house on Form 4797 with 0 proceeds less the total depreciation taken over the years and it is allowing a current year loss to the extent of the net rental income.  This does not seem right to me that a disposition will be reflected on Form 4797 since the rental property was not sold, and moreover that any loss on sale of a property would be allowed.