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January 8, 2025
Question

I rented out my home for 9 months last year. I moved back in 10/1. Is that listed as a secondary home on my taxes even though its my only home?

  • January 8, 2025
  • 1 reply
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And if it is listed as secondary home, where do I put how much I made from it and how much I spent on it? Made a lot of repairs to the place while it was rented out.

    1 reply

    January 14, 2025

    Where are you seeing this question?  Under which topic? 

     

     If you had 2 different homes during the year and are trying to claim expenses on both homes, you may need to list the second home as a second home. In general, living in 2 different homes does not affect your taxes unless, for example, you are claiming a mortgage interest deduction or an energy credit.

    The repairs you made while it was a rental would go on your Schedule E along with the rent you received.  If you did something major like replacing the roof while it was a rental, then that would be a depreciable expense.  You would add the roof as an asset and take depreciation for it over 27.5 years.  

    Any repairs that you made while it was not a rental are not deductible.  If they were major repairs that extended the life (ex. replacing a roof) then you would add to the cost basis of the house for when you sell it. 

     

    As you walk through the steps in TurboTax to enter your rental income and expenses, you will be asked if you disposed of or converted the house to personal property.  You will answer yes to this question.  You will need to know how much depreciation you have taken in previous years on the rental as you will need to recapture the depreciation. 

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