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rental income for short-term rental of my house

I rented my primary residence out for a couple of months this past summer, so I selected "converted home to rental" on Turbotax. But I'm not sure whether on the next screen to check the box "converted primary residence to rental" or "converted rental to primary residence." I rented my house in July and August of 2023, so I did both of these things!  I first converted it to a rental and then I converted it back into the primary residence.

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1 Reply
DianeW777
Expert Alumni

rental income for short-term rental of my house

In a year when an asset, in your case your rental home, is put in service and removed from service in the same year, no depreciation is allowed to be used.  Do not enter the house itself as an asset.  You can take any other expenses you had for only those couple of months while it was being rented. Since you entered the house as an asset you must delete it and that question will not be asked.

Report income and expenses on Schedule E. You can use the link below for additional assistance.

@Giselle5

[Edited: 04/09/2024 | 1:28 PM PST]

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