Do I submit my rental home as a first year rental (2020) in Turbo Tax if that home was not rented for two year(2018, 2019)?

[ErnieS0]

No. If the property was previously rented, there is information about the previous period that should be entered, including prior depreciation and passive losses (if any).

Check the passive activity loss and at-risk boxes if they apply. Consult your prior Form 8582s.

When you enter the house as a depreciable asset, match the information with your previous tax returns in terms of purchase date and date you first started using it for business. And enter the accumulated depreciation, which would be different since you did not rent in 2018 and 2019.

[denisem720]

Where do you see the specification as to whether or not this is a first year rental and given the option to exclude it from 2020 taxes?  I am using the locally installed copy of Premier and it is not questioning whether or not it is a first time or partial year rental (I rented only for 245 days of the year, the previous 121 was for personal use).  Thanks!

[ColeenD3]

@denisem720

You encounter the question about First Year and converting from personal to rental when you are setting up the rental.   

[denisem720]

Thank you Coleen, but I am using the locally installed copy of Turbotax deluxe. I did not encounter this question nor did I have an opportunity to enter my mortgage interest/property tax for the property under the rental section.  Where it prompts for the property taxes/mortgage interest under deductions it says don't put it there, put it under the rental.  Clearly I'm doing something wrong.

Update: User Error - I found where it told me if I had expenses to Edit the rental in the Rental Properties and Royalties section. This is where it asked if 2020 was the first time I rented. Thanks!