pat
Level 5

There are three entry points for information when a primary residence is converted to rental end of year:

Sch E sc 10 - property type, Should I select Single Family Residence or Vacation/Short Term REntal?

Depreciation sc 22 - Form Schedule E (vacation home)

Sch E sc 18 - personal use days

Doesn't the home fall under the vacation home rules this year because they occupied it as their residence for 350 days? They rented for 16 days.

Are these the correct entries? Another tax preparer also suggested that next year, I delete this form and create a new Schedule E (rental) and enter the prior depreciation from 2020 into the new schedule for 2021since there will be no personal use in 2021.

I always appreciate your assistance.

Thanks.

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