topic We lived 365 days in the first and second floor. We rented out the basement for 7 months, the other 5 months we lived in it. Up till May '17 it was 100% ours. in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/we-lived-365-days-in-the-first-and-second-floor-we-rented-out-the-basement-for-7-months-the-other-5/01/717506#M31851 Dec '17, it became 100% ours again.<BR /><BR />Do we state that we converted it from personal to rental in 2017, then back again in 2017? Do we touch the conversion question at all? Thu, 06 Jun 2019 14:47:04 GMT chisle 2019-06-06T14:47:04Z We lived 365 days in the first and second floor. We rented out the basement for 7 months, the other 5 months we lived in it. Up till May '17 it was 100% ours. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/we-lived-365-days-in-the-first-and-second-floor-we-rented-out-the-basement-for-7-months-the-other-5/01/717506#M31851 Dec '17, it became 100% ours again.<BR /><BR />Do we state that we converted it from personal to rental in 2017, then back again in 2017? Do we touch the conversion question at all? Thu, 06 Jun 2019 14:47:04 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/we-lived-365-days-in-the-first-and-second-floor-we-rented-out-the-basement-for-7-months-the-other-5/01/717506#M31851 chisle 2019-06-06T14:47:04Z No, you do not state that you converted it to a rental in... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-you-do-not-state-that-you-converted-it-to-a-rental-in/01/717510#M31852 <P><B>No,</B> you do not state that you converted it to a rental in 2017, however <B>you must report</B> the income that you received from renting the basement in your home.&nbsp; You are allowed to <B>deduct expenses</B> associated with renting the basement in your home.</P><P>Expenses for your entire home must be divided between the part you rent and the part in which you live. This includes payments for:</P><UL> <LI>mortgage interest</LI> <LI>repairs for your entire home—for example, repairing the roof or furnace, or painting the entire home</LI> <LI>improvements for your entire home—for example, replacing the roof</LI> <LI>homeowner's insurance</LI> <LI>utilities such as electricity, gas, and heating oil</LI> <LI>housecleaning or gardening services for your whole home</LI> <LI>trash removal</LI> <LI>snow removal costs</LI> <LI>security system costs, and</LI> <LI>condominium association fees.</LI> </UL> Thu, 06 Jun 2019 14:47:06 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-you-do-not-state-that-you-converted-it-to-a-rental-in/01/717510#M31852 EricZ 2019-06-06T14:47:06Z