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In 2023 taxpayer moved into rental home. Home rented since 2017. ZERO days rented in 2023 (proseries is giving an error on Schedule E saying must be at least 15 days rented - so I presume I'll have to delete the Sch E). 183 days as Primary Residence in 2023. When 7/1/23 is entered as a "disposition date" depreciation still calculates. When entered as 1/1/23 depreciation calculates for 1 day. No box to check to state "converted rental to primary" (like turbo tax does). Where do I / how do I enter correctly?
AND
Is depreciation recapture due on sale OR on conversaion to primary?
Thankyou!
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Print the 2022 depreciation schedule and keep it in the client's file for the day that they do actually sell the property. Then just delete the schedule E worksheet and the related deprecation schedule.
Slava Ukraini!
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Depreciation recapture is due on sale