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Rental property placed in service

In August 2014 I rented my home and used this as the month and year placed in service.  My question is, do I use this date for "year placed in service" on all my subsequent tax returns? 

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1 Reply
DeanM15
Expert Alumni

Rental property placed in service

Yes, you started using your home for business purposes in August 2014. You should use this date for "year placed in service" in future tax returns. 

 

I would point out that if you use the same TurboTax account year after year, this date will carry forward in the return. You will not need to enter it every year. 

 

 

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