Change status of rental home to personal use.

[zz3bcn]

I have not filed my 2019 taxes yet, can I change the status of my rental in another state from rental to personal use as of September 1st 2019.

[AmyC]

If that is when it became personal use, yes. Mark that you converted the property to personal use.

[zz3bcn]

Now I did rent it for a couple on months in  2020, but not because I was trying to - it just was an opportunity to help someone out while their house was being worked on before they moved into it.  Do I just report that as ordinary income?  At the time was trying to decide between sell the house or do monthly rentals versus the short term rentals we have been doing the previous 4 years. 

[Carl]

Note that on your 2019 tax return, simply checking the box to indicate you converted it to personal use is not enough. You must work through each individual asset one at a time and select the option for "I stopped using this asset for business in 2019". Then on the "Special Handling Required?" screen select YES. (If you select NO then you will be forced to enter sales information.)