Stopped renting out a room in my house

[Shafanak]

I rented out a room in my house in 2020 and the first half of 2021 and used Turbotax to report this activity.

I did not rent it out in 2022 and do not plan to rent it out in the foreseeable future.

How do I update Turbotax with this information about the rental?

Do I just delete the property, or do I keep it and modify the attributes?

Any guidance would be appreciated.

Thanks,

[MonikaK1]

Complete the interview for the rental property. Answer the questions to indicate that the property was not rented at all during 2022.

At such time as you sell your home, you would need to report that it had been previously used as a rental and you would recapture the depreciation taken.

Please see this thread for further discussion of the situation of renting out part of your home. 

See here for more information from the IRS on this topic.

[Shafanak]

@MonikaK1 Thank you very much for your response.

I have a follow-up question:

In the interview "Rented" section I had the option "I rent out part of my home" carried over from last year.

In the "Converted" section I selected for 2022 "I converted this property from a rental to personal use in 2022"

Since I did not rent it out at all in 2022, do I still need to keep the "Rented" section "I rent out part of my home" selected for 2022, or should I remove the selection from this section?

Thanks,

[PatriciaV]

Leave the box checked for "I rent out part of my home" since that was how you reported the rental last year. 

MonikaK1's instructions to say you didn't rent it at all in 2022 preserves the history for the rental activity and allows you to report it again in the future if desired. You may consider this option for 2022 and convert the space to personal use next year just in case.

Note that reporting that you converted the rental to personal use may have tax consequences. Follow the prompts through the rental property interview so TurboTax can complete any necessary calculations and prepare the related forms. You can always go back and change your answers.