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piyotax
New Member

During Review, Turbo Tax Online (Premium) is checking entry on Schedule E, but I'm the only one living in this property.

During Review, Turbo Tax Online (Premium) is checking entry on Schedule E, but I'm the only one living in this property in 2024. It's not allowing me to enter days rented = 0. How can I move forward?

 

I had a tenant in 2022 and reported rental income. But I stopped renting it in 2023 and didn't report any income. 

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1 Reply
PatriciaV
Expert Alumni

During Review, Turbo Tax Online (Premium) is checking entry on Schedule E, but I'm the only one living in this property.

If you no longer rent a portion of your home, you should report that you stopped using the property as a rental and converted it to personal use only.

 

Start TurboTax and open your return.

  1. Go to the Rental Properties & Rentals topic in TurboTax and edit the rental property. (You can do this by searching for "schedule e.") 
  2. Choose to review the property info.
  3. When you reach the section titled "Do Any of These Situations Apply to This Property?" be sure to check this box under Converted: "I converted this property from a rental to personal use..."
  4. On the page "Was this property rented for all of 20xx?" check the "No" box and the box for "I did not rent, nor attempt to rent, this property at all in 20xx."
  5. Don't enter an income or expenses.
  6. Update/Review the Assets/Depreciation topic and go directly to your rental assets.
  7. Edit each asset and answer "Yes" to the question "Did you stop using this asset in 20xx?"
  8. When asked for the disposal/sale date, enter the date the last renter vacated the property.
  9. On the "Special Handling Required?" screen, select "Yes".  Note that if you select NO then you are telling the program you sold the property and you will be forced to enter sales information. Therefore, you must select YES.
  10. Note that all information for the rental property will be removed from your return. Be sure you save the last forms that were filed for this activity. You'll need this information should you sell the property in the future.

 

 

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