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posted Jun 3, 2019 12:44:55 PM

We have a 2nd home that we started renting in 2016 when we are not using it. Should I answer that I converted this property from personal use to rental? We still use it some mo's

We have a property manager who advertises and takes care of the rentals for us.

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Expert Alumni
Jun 3, 2019 12:44:57 PM

No do not make the selection that you converted the property from personal to rental use because you are still using the property for both purposes (personal and rental).

Select "No" you did not rent this property the whole year, then enter the days it was rented at fair rental price and personal use days (all other days).   (see image attached)

Along with any other expenses you enter the mortgage interest and real estate property taxes and TurboTax will carry the personal portion to Schedule A, itemized deductions. Do not make a second entry in that section of the return.

1 Replies
Expert Alumni
Jun 3, 2019 12:44:57 PM

No do not make the selection that you converted the property from personal to rental use because you are still using the property for both purposes (personal and rental).

Select "No" you did not rent this property the whole year, then enter the days it was rented at fair rental price and personal use days (all other days).   (see image attached)

Along with any other expenses you enter the mortgage interest and real estate property taxes and TurboTax will carry the personal portion to Schedule A, itemized deductions. Do not make a second entry in that section of the return.