Converted a property from rental to personal use, and then back to rental again within the same year. How to enter this in Turbo Tax 2017?
The property was converted to a rental in 2016. In 2017, the property was available for rent from Jan 1 - Feb 28, and then converted to personal use from Mar 1 - Sept 30. Then, became a rental again from Oct 1.
In the questionnaire, I checked both boxes.
1. "I converted this property from personal use to a rental in 2017".
2. "I converted this property from a rental to personal use in 2017."
When I get to the depreciation section, I entered the following dates for the "disposition information".
Date of sale or disposition: Apr 1, 2017
Date Acquired: The date the property was first purchased in 2015.
I was never asked about the date that the property was converted from personal back to rental again (Oct 1, 2017). And the depreciation is only calculated for Jan-Feb (no depreciation for Oct-Dec).
Where can I input the data for the conversion back to a rental on Oct 1?
The only way I can think of is to add it as second asset put into service on Oct 1, even though it's the same asset.