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How do I claim the sale of one half of my condexed duplex?
I have owned and resided in half of a duplex for more than thirty years. Last year I condexed it. That is, I subdivided the property, sold the side that I lived in and moved into the side that I have been renting all these years. Can I simply treat the sale of the side that I lived in as the sale of my home and convert the rental property side to personal use? I'm concerned that my situation may be too much for TurboTax to handle.
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How do I claim the sale of one half of my condexed duplex?
Can I simply treat the sale of the side that I lived in as the sale of my home and convert the rental property side to personal use?
Yes ... that is exactly what you do. The sale of the personal residence is entered in the home sale section and the rental is taken out of service. Read the screens carefully and follow the instructions.
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How do I claim the sale of one half of my condexed duplex?
Can I simply treat the sale of the side that I lived in as the sale of my home and convert the rental property side to personal use?
Yes ... that is exactly what you do. The sale of the personal residence is entered in the home sale section and the rental is taken out of service. Read the screens carefully and follow the instructions.
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