Rental room disposition

[Opfor77]

Client turned unfinished basement into a rental apartment for $25,000.  Only rented it for a couple months, then let a family member move in there for free, no longer a rental apartment, and never will be again.  I'm trying to dispose of the asset, and mark it as converted to personal use.  No sales price, no selling expenses, no sales period.  I cannot locate where to enter a disposition code, so it's showing up as sold, and triggering a $24,000+ loss on the return.  Any ideas?

[Just-Lisa-Now- · Accepted solution]

why even set it up as a rental if it was only a few months?  Youre making it too much work.  

But to fix your issue, just enter a disposal date on the asset entry worksheet with NO price, that takes it out of service and you wont see any gain or loss.

[Opfor77]

Thank you, that worked.  I agree 100% with the first part, client is insistent on it.........