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Returning Member
posted Mar 29, 2023 2:43:19 PM

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. 

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1 Replies
Moderator
Apr 5, 2023 4:21:08 PM

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.