I converted my home to a residential rental; For basis for depreciation, do I say "I bought the rental" or "none of the above'? Do I use Adjusted basis or FMV in depr?

[kimmert2001]

Turbo Tax asks for different information if I say "I bought rental" vs "none of the above".  I did buy the property, but it was my home until I converted to rental in 2018.  I just want to get the basis correct for depreciation, and I'll be selling the property in 2019

[KarenJ · Accepted solution]

The basis for depreciation will be the lesser of fair market value or adjusted basis on the date of conversion. You need to enter that you bought the rental.