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March 5, 2025
Question

splitting a rental property

  • March 5, 2025
  • 1 reply
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I bought a duplex in 2023 and rented both units out in 2024. At the end of 2024 I started using one for personal purposes and intend to continue doing so going forward. I treated the duplex as one unit in last years TT. How can I split it into two for 2024 or 2025 (I could just report personal use for the days in 2024)

    1 reply

    March 5, 2025

    I would treat it as two separate properties.  To do so, you would need to file an amended return for 2023 if you were treating the property as a rental then.  It will be a little bit of trouble now, but it will make things a lot easier going forward.  

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