I rented my apartment out for 1 month in 2025. When TurboTax generated the depreciation of my apartment, it was for the full year. How do I prorate the depreciation for only 1 month of rental? For other expenses such as property taxes, maintenance, it automatically prorated to 1 month.
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What is the date that you entered for the date that you placed the apartment in service? You should have only entered that the apartment was available to rent for one month.
I entered January 2020 because that was when I started renting it out. My previous CPA entered that date as the apartment in service date so I copied what he did.
Did you live in the property for the remainder of the year?
Yes i did. I moved back to the property from Feb 2025 onwards.
Two things to do:
You have to select in the property profile section that you converted it to personal use.
Then, you go through the assets and mark them as converted to personal use.
@garyl888 if a CPA has been preparing your returns for prior years, none of that info will be in TurboTax. From the prior return you'll need to enter the info for each asset used in the rental.
You also have to keep track of the depreciation taken, because the rental property will probably not transfer to the 2026 return when you do it in 2027. The depreciation you took is subject to special treatment if you ever dispose of the property
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