Enter the code indicating the type of property.
Note: If no entry is made and the number of days that the property was used for personal purposes is entered and the property qualifies as a home, the property type will default to "Vacation/Short-Term Rental." If non-depletable or depletable income is entered, the property type will default to "Royalties." If an asset has been entered, with a life of 39 years, the property will be indicated as "Commercial." If the Activity Code entered is 5, "Subject to recharacterization rules," the property type will default to "Self-Rental."
If none of the property types listed properly describe the type of property, enter a description in
Valid codes for these
| 1 | Single family residence |
| 2 | Multi-family residence |
| 3 | Vacation home/short-term rental |
| 4 | Commercial |
| 5 | Land |
| 6 | Royalties |
| 7 | Self-rental |
| 8 | Other |
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