Yousuf2023
Returning Member

Principal Residence

I bought 2nd property (a house) in 2022 (closing of Oct 2022). I put my principal residence (1st property) on rent, which will be counted as deemed sale. 

 

I don't see any option on turbo tax to designate my 2nd property as Principal Residence.   

 

Can any one guide me please. 

Investors and rental owners

You will designate your new home as your principal residence when you sell it or have a deemed disposition like you did with your old principal residence.