I use TT Business 2024 to do taxes for my rental property. We converted to personal use in 2024, and I cannot figure out how to tell TT Business 2024 to switch the house to personal use. Can you please give me a step-by-step including how to remove depreciation of assets. Thank you.
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The house is in an LLC, if that makes any difference in your answer. Thanks.
TurboTax Business?
Is this a Corporation or is this a Partnership?
Was the house distributed to you? Does the Corporation or Partnership still exist?
If the rental was in a Corporation or Partnership and it is not being used for personal use, you REALLY need to go to a tax professional this year.
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