Level 15
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Self-employed computer consultant & own 3 rental properties. Retired from USAF in 98.
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Since you did not rent or attempt to rent the property at all in 2024 you should show/indicate in the program that you converted it to personal use with an effi...
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If the property was your primary residence for at least 2 years (730 days) of the last 5 yaers (1826 days) you owned it, counting back from the closing date of ...
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See if this information helps.Number of days of personal use - ZERO. The program is asking for number of days of personal use "AFTER" you converted it to a rent...
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No. Basically, you are "in the business" of managing other people's property. Therefore all of your business income and expenses are reported on SCH C with the ...
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@Rhom for inventory there's a section in the TTX program for reporting this. The only way to actually see that section in the program is if you indicate that yo...
Activity Feed for Carl
- Posted Re: Help with rental sale on Investors & landlords. yesterday
- Got Cheered for Re: Will TurboTax also recognize my eligibility for the home sale tax exclusion when completing my 2025 Tax Return since the property is a rental currently?. yesterday
- Posted Re: Will TurboTax also recognize my eligibility for the home sale tax exclusion when completing my 2025 Tax Return since the property is a rental currently? on Investors & landlords. yesterday
- Got Cheered for Re: Newly formed S Corp - what do I do with my sole proprietor accounting. Tuesday
- Got Cheered for Re: Newly formed S Corp - what do I do with my sole proprietor accounting. Tuesday
- Got Cheered for Re: Newly formed S Corp - what do I do with my sole proprietor accounting. Tuesday
- Got Cheered for Re: I have a rental property, but because my income is greater than $150K I cannot claim any losses. if I place the property in an LLC, would I be able to claim the losses?. April 15, 2025 8:18 AM
- Got Cheered for Re: Rental property conversion cost basis. April 14, 2025 8:34 PM
- Got Cheered for Re: Depreciable improvement allocation for sold rental property. April 14, 2025 5:32 PM
- Got Cheered for Re: Filing a dr-405 in florida for a rental property. April 12, 2025 6:49 PM
- Got Cheered for Re: Because that's the way the IRS divides them on the SCH E..... April 12, 2025 6:04 PM
- Got Cheered for You are not the original poster who started this thread..... April 12, 2025 4:16 PM
- Got Cheered for Re: Difference between two TT files. April 12, 2025 2:16 PM
- Got Cheered for Re: Some formsets are not present on this machine. Please install all formsets. Error 190.. April 12, 2025 12:05 AM
- Got Cheered for Unless you meet very explicit and specific criteria, the.... April 7, 2025 5:01 PM
- Got Cheered for Re: What category does a new roof on a rental property fall under? Is it landscaping? I'm not seeing very good examples.. April 6, 2025 9:46 AM
- Got Cheered for Re: What category does a new roof on a rental property fall under? Is it landscaping? I'm not seeing very good examples.. April 5, 2025 4:12 PM
- Got Cheered for Re: What category does a new roof on a rental property fall under? Is it landscaping? I'm not seeing very good examples.. April 5, 2025 4:11 PM
- Got Cheered for Re: Where in turbotax is 1099-NEC reported. April 5, 2025 1:34 PM
- Got Cheered for Re: I have residential rental properties, can I select bonus depreciation for a new roof and new AC placed in service in 2020?. April 3, 2025 7:55 PM