In January 2024 I owned a duplex. I lived in one half and rented the other. Midyear I left, and rented both halves. How do I report this with Turbo Tax?

[matthewring66]

I moved in August. The duplex is in Wisconsin. My new home is in Indiana.

[AnnetteB6]

If 2024 is the first year you would be reporting rental income, the easiest thing to do would be to report each half of the duplex as its own rental property.  

Some tips:

• When entering the information required to depreciate the half that was rented the whole year, enter half of the total cost of the duplex as the basis for depreciation for that side of the duplex (if both sides are essentially the same size).  
• When entering the information for the second half of the duplex, indicate that you converted the property from your residence.  You would not indicate that there was any personal use of the property during the year because the time it was used as your residence does not count as personal use.  

To get started, take a look at the following TurboTax help article:

Where do I enter income and expenses from a rental property?