Do I answer not rented for a rental property that was not rented in 2022?

Forum|Forum|3 years ago
March 3, 2023
1 reply
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Rental property was rented in 2021 but not in 2022. How to handle that in turbo tax for schedule e?

TurboTax Online

AnnetteB6

The situation is handled differently depending on why it was not rented in 2022.

If the property was still advertised and made available to rent, then you would just answer that it was not rented in 2022. Do not check the box that you did not attempt to rent it during 2022 if it was still being advertised.

Other situations would be that you sold the property or converted it to personal use. If either of these applies, check the appropriate box on the Property Profile section for the rental income and expenses and TurboTax will walk you through what you need to do on the 2022 tax return.

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claybird99

Just be aware that if you check the box that says "I did not rent nor attempt to rent..." the program will prompt you to remove the property on the next page. I mistakenly chose this option. The property and all of the depreciation info was removed completely. I had to pull up a prior year's return to locate this info and completely re enter the year of purchase, cost basis, etc. as if I had never entered the property to begin with.