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April 17, 2023
Question

Converting rental property to primary resident

  • April 17, 2023
  • 1 reply
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converting rental property to primary resident

1 reply

PatriciaV
Employee
April 18, 2023

If you have reported this property as a rental in prior years, you will need to report that you converted it to personal use this year.

 

  1. Open your return and search on "schedule e" then click on the "jump to schedule e" link.
  2. Click Edit beside the property you need to work on.
  3. Click Edit beside Rental Property Info.
  4. Click Edit under "Situations."
  5. Check the box for "Converted home to rental or rental to home."
  6. Click Continue and follow the interview to the end.

Be sure to keep any reports for this property from the current year return. You will need this information should you sell the property in the future or convert it back to a rental.

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