My very first rental didn't start until December 26 and ran for 21 days. How do I report this?

Forum|Forum|3 years ago
March 17, 2023
1 reply
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I converted a second home to a rental property and my in-service date was October 1. My first rental didn't start until December 26 and ran for 21 days. I received payment in 2022 and a 1099-MISC from my rental agency for 2022 for the amount of the 21 day lease. In doing my taxes, the actual number of "days rented at a fair rental price" for 2022 was 6. Turbotax says this must be 15 or greater otherwise I don't need to report it.

How do I treat this situation? Since I received a 1099 I can't not report it. Do I say the property was rented for 21 days even though 15 days of the lease were in 2023?

RobertB4444

Your days available for rent was 92. The fact that it was only rented for 5 of those days is not a reflection of it's availability.

You put down that it was a rental property starting October 1st. You enter all of your legitimate expenses from that time period and then you enter the amount of money that you made.

@Daveajs

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