Financial Software Questions? Ask IT Support for Answers ASAP
Hi. My name is ***** ***** I will be happy to help you.
When did you start renting the property? Did you claim the house you flipped on your last year return? Rentals are not allowed to take any sec 179 or special depreciation. You will have to use mid month convention for your rental and for your flip property.
I am sorry, my company uses Lacerte and I don't have a new version of Turbo Tax at home. I can tell you how it should be reported and where but I cannot walk you through Turbo Tax.
I can think of quite a few reasons why you would be better off, and likely pay just as much, by simply hiring someone to do your taxes as opposed to attempting this. So, that's my advice. I'll be opting out now in case someone wants to entertain this idea. Good luck!