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Tax, SDIRAs & Cost Segregation

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Robert Kohnfelder
  • Rental Property Investor
  • Pittsburgh, PA
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35
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Confused by Tax Return - moved from owner/occupied Multi to SFH

Robert Kohnfelder
  • Rental Property Investor
  • Pittsburgh, PA
Posted Feb 24 2020, 17:03

Last year's online tax return (turbo tax) was fairly simple from what I recall, as I had no major confusion selecting that I lived in the property and also rented it out. This time around, I can't find a clear-cut choice to select when describing the rental property I no longer live in. I lived in it for about half of 2019, but did not end the year living there. I tried using TurboTax again as well as H&R Block this year, and I've run into the same roadblock on both sites. My options are basically as follows:

  • -It's a spare room I rent out in my home.
  • -It's multi-family housing and I live in one unit.
  • -It's property that changed from being my main home to a rental in 2019.
  • -It's rental property I (or my family) used personally for one or more days in 2019.

The third option makes the most sense, but then it goes on to ask how many days I used the property for "Personal Use", which doesn't seem quite right to me (but as a tax novice, I could be totally wrong here). Is this a correct option? Should I go get my taxes done by a pro? I'm really just looking to do this the right way, but would like to learn for myself and for the future -- even if it means sitting down with a pro this year.

Any advice/opinion is much appreciated. Thanks!

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