We converted a residence to a rental in 2021 and thus filled out Turbotax listing it as renting "part of home" (selected situations "converted home to rental" and "rented part of your home", as both applied).
For this year's return, 100% of the property was rented in 2022 for the whole year. Under "situations" for the rental property, Turbotax still lists "part of home". I cannot find a way to change this. I have ensured neither "converted home to rental" nor "rented part of your home" are selected. Under the page "want us to divide the rental related portion of <property>" I tried entering "area of home rented (%)" as 100%. Turbotax refuses to save that value and insists it must be <100%. I can enter 99.99%... Sure, effectively equal, but this isn't the situation...
I would prefer not to delete the entry for the property and dig up all the info to re-enter value, etc. Additionally, I want to make sure that depreciation calculated from last year's return continues to be tracked properly.
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You should be able to change this property from a part-home rental to 100% rental by unchecking the "part of home" box under Situations. It's possible that logging out, clearing your browser cache and cookies then logging back into TurboTax may resolve this for you.
If not, choose "I'll do the math" on the "want us to divide" page. Then enter 100% of your expenses.
Also check to be sure you have reported 100% business use for your Rental Assets for depreciation.
Thanks for taking the time to reply. Unfortunately most of your suggestions don't work.
- logged out, cleared browser cache and cookies, logged back in
- "part of home" is unchecked under "Situations" (also tried toggling this on and off and going through all questions each time, no luck)
- still does not allow entering 100% rental use in "want us to divide" page
- "Review your rental property info" page still lists "situations: Part of home" incorrectly
Would be nice to see TurboTax fix this bug in the software.
I will go with your other suggestion and select "I'll do the math" on the "want us to divide" page.
- already entered 100% of expenses
- already have 100% business use entered under Rental Assets for depreciation
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