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Rental Property-How did you acquire this property question.

I have seen different answers for this question and need clarification. Bought house as primary residence in 2002 and it became a rental in 2020. Do I mark "I bought this rental" or "None of the Above?" 

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1 Reply
MaryK4
Expert Alumni

Rental Property-How did you acquire this property question.

Yes, it is looking for the way you acquired the property originally.  This can affect the basis that is depreciated, although in your case where it was converted from personal use, you need to know the fair market value when placed in service.

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