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Level 1
February 25, 2024
Question

Conversion of rental property

  • February 25, 2024
  • 1 reply
  • 5 views

My client purchased a rental property and held it for two years. In June of 2023 they converted it to personal use. Where do I input the date of conversion so depreciation expense is not calculated for the last half of 2023 and that it is not shown as a sale?

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    1 reply

    dkh
    Level 15
    February 26, 2024

    Try entering date of sale but leave sale price blank.