It depends but if the house was available for rent and/or rented during any part of 2017, then you will report this under the rental section as a full year rental (since you did not convert the house into a personal residence until 2018).
When you get to the section about rental days vs personal days, then the days that you spent working on the house to fix it up will be considered personal day and any days that the house was rented or available for rent will be considered rental days.
Also, If you completed the capital improvements during your personal days and after you finished with the capital improvement, the house was not available for renting then you will not include these capital improvements as a rental asset. Instead you will just add the cost of the capital improvements to the cost basis in your house.
To
enter rental information in TurboTax, log into your tax return (for TurboTax
Online sign-in, click Here and click
on "TTo
enter rental information in TurboTax, log into your tax return (for TurboTax
Online sign-in, click Here and click
on "Take me to my return") type "rental
income and expenses" in the search bar then select "jump to rental income and expenses".
TurboTax will guide you in entering this information.ake me to my return") type "rental
income and expenses" in the search bar then select "jump to rental income and expenses".
TurboTax will guide you in entering this information.
