Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Changing rental to personal residence

Highlighted
Level 1
Owner moved into rental 1/1/2017. What is the best way to to change rental to home without deleting the Asset Worksheet.
Labels (1)
0 Cheers
2 Replies 2
Highlighted
Level 15

Print the worksheet to paper or a pdf.  Then go ahead and delete it.  Save the printed copy for the day that property is sold.  It doesn't really serve any purpose lingering around.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
Highlighted
Level 1

I code it to form 17 4562 only then I put a 99 for depreciation so it no longer calculates depreciation.  Those then print out every year with the clients tax return, that way if they move or use a different preparer that tax preparer has that information.  That great if you just print a copy and keep in your file, but in my office I have had them purge files including the back-up accidentally. 

0 Cheers