Question

Stopped renting house

Forum|Forum|2 years ago
March 31, 2024
1 reply
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I stopped renting a spare house I have and am taking a few years in my spare time to remodel it. Maybe to rent out again, maybe sell or move into. I don't know yet. Do I continue to fill out schedule E with 0 days rented and no personal useage?

PatriciaV

No. You should not continue to report a rental property that is no longer available to be rented. But first, confirm that you have all the worksheets and forms related to this property from last year's tax return.

Then you can report that you converted the property to personal use on the page "Do any of these situations apply to this property?" Also check the No box on the page "Was this property rented for all of 20XX?" and check the box "I did not rent, nor attempt to rent, this property at all in 20XX."

Note when you check this box, TurboTax tells you that all information about this property will be removed from your return. If you decide to rent the property in the future, you will need the historical information that you've saved.

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