Changed Home A to rental 2/3's into 2017. Lived in it thru August, move to new home, began renting Home A in September. Will TT properly account for that change?

[argarcia951]

We lived in home A from 9/2015 - 8/2017, Move to Home B and rented Home A in 9/2017. Will TurboTax run us thru the process to account for the changes?

[AmandaR1 · Accepted solution]

Yes, when setting up your rental property in TurboTax Premier, you'll be asked questions that will allow you to tell the software about these changes to your property. 

When adding your rental, on one of the first screens titled, Do Any of these Situations Apply to this Property? you'll need to select, 2017 was the first year I rented and I converted this property from personal use to a rental in 2017. After that the software will ask all the relevant questions.

Once the property is setup you will come to the Rental Property Income and Expense Summary screen. This is where you enter all information for your rental. You can get back to the setup questions for your rental at any time by editing the Property Profile, from this summary screen.