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Converted investment to primary residence 2022, why Schedule E in 2023

In late 2022 we converted our AL vacation rental to our primary residence and filed with TurboTax accordingly.  Now doing 2023, TT asks if we have 1099 MISC or rental income and we answer NO, but it tells us we still need to complete some things and will come back to that.  When SmartCheck is run, it's asking me 3 questions about the Schedule E -- like how many days rented (0), how many days personal use, etc.  Is this right?  Why would I need to answer anything on Schedule E for 2023?

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MarilynG1
Expert Alumni

Converted investment to primary residence 2022, why Schedule E in 2023

If you indicated on your 2022 return that you 'converted your rental property to personal use', you should not have to answer any Rental related questions in 2023, as you mentioned. 

 

Return to the Rental section to see if you need to make an entry in the Property Profile or the Rental Asset sections to give the date you converted your property. 

 

There is also a checkbox indicating 'I did not rent or attempt to rent this property at all in 2023' you may have missed. 

 

Remember that when you sell this property, you will enter it as a Sale of Business Property in TurboTax, since it was formerly rented.

 

Here's more info on Converting Rental Property to Primary Residence. 

 

 

 

 

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1 Reply
MarilynG1
Expert Alumni

Converted investment to primary residence 2022, why Schedule E in 2023

If you indicated on your 2022 return that you 'converted your rental property to personal use', you should not have to answer any Rental related questions in 2023, as you mentioned. 

 

Return to the Rental section to see if you need to make an entry in the Property Profile or the Rental Asset sections to give the date you converted your property. 

 

There is also a checkbox indicating 'I did not rent or attempt to rent this property at all in 2023' you may have missed. 

 

Remember that when you sell this property, you will enter it as a Sale of Business Property in TurboTax, since it was formerly rented.

 

Here's more info on Converting Rental Property to Primary Residence. 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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