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921carpenter
Returning Member

I converted a rental prop. to my primary residence midyear. TurboTax carried over the full 2023 amount. How do I change the depr. to reflect only partial year depr?

Example: The amount for the full-year depreciation is $12,000. We rented through August 31 and moved back in on Sept 1. We should only depreciate $8,000 but TT has the entire $12,000 for 2024. We have the rental days set at 244 and personal days at 0.
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I converted a rental prop. to my primary residence midyear. TurboTax carried over the full 2023 amount. How do I change the depr. to reflect only partial year depr?

When you go through the "asset" for "depreciation", you need to indicate that you converted it to personal use.  If you have more than one asset for depreciation, you need to do that for each asset.

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