rental property converted to primary residence

[prakash00]

Client moved into their rental property in 2023 on which he claimed depreciation from 2019 to 2023.

How does he report the change in the tax return and defer or suspend recapture of depreciation till sale.

[tagteam]

Client? Is the client using TurboTax?

If so, it is a simple matter of indicating the property has been converted to personal use in the program (the Rentals section).

[rjs]

Are you a tax preparer? You cannot use TurboTax to prepare tax returns for clients. TurboTax is only for do-it-yourself consumer use and cannot be used by paid preparers. Intuit (the company that makes TurboTax) has three tax software product lines for professional preparers: ProSeries, Lacerte, and ProConnect. You can find information about all three product lines at the following link.

Professional tax software for preparers