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ramin64
New Member

Converting my rental to primary residence in July 15 2023 & Converting my primary residence to rental in Oct 6, 2023

I have two properties: my house I purchased in 2003 and it was my primary residence until 2013 when I converted it to rental. In 2017 I purchased a townhouse and it has been my primary residence since.

In July 15 of 2023 I moved back into my house and converted back to my primary residence. In October I put up my townhouse for rent and was rented Oct. 6 2023 (I converted my townhouse as my primary residence to rental).

Q1- How do I enter expenses, Mortgage Interest, taxes, insurance, etc. for each property during periods that it was rental, do I calculate the annual costs and prorate for the days/365 that it was rental?

Q2- How I do I enter the other portion of the Mortgage Interest and Taxes as deductions for each property during periods that it was personal residence. TurboTax asks for the number of days it was rental, but it is not clear if it is automatically prorating especially Mortgage interests and Taxes. I also searched and read Q&A and found a couple but I am still confused as to how to enter my Mortgage interest and taxes for both rental expenses and for deductions (as primary residence) 

Thank You

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2 Replies
pk
Level 15
Level 15

Converting my rental to primary residence in July 15 2023 & Converting my primary residence to rental in Oct 6, 2023

@ramin64 , do you still need help on this  or have you already filed / solved your issue(s).   You are talking about tax year 2023 only, right ?    Did you  file  schedule-E all these  years while one or thew other houses were  available for rent ?

 

I will circle back once I hear from you 

ramin64
New Member

Converting my rental to primary residence in July 15 2023 & Converting my primary residence to rental in Oct 6, 2023

Got it resolved with the help of TurboTax support- thank you

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