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If I converted my home to a rental unit in 2023, do I still list that in this year's filings? Or does it only apply in the year that the conversion happened?

 
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KrisD15
Expert Alumni

If I converted my home to a rental unit in 2023, do I still list that in this year's filings? Or does it only apply in the year that the conversion happened?

Yes and No.

 

When you converted your home to a rental in 2023, you should set-up the rental at that time, and entered income and expenses.

If you used TurboTax for tax year 2023, that rental will carry-over and you enter the income and expense for tax year 2024. 

 

Depending which TurboTax program you have, the rental section will be under Business if using Home and Business Desktop or Self-Employed Online. 

For others, it is located under 

 

Wages & Income

Rental Property and Royalties

 

Say "Yes" to review and select the rental from the list

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