How can I enter fair rental days and personal use days on ... - Intuit
2019年5月31日 · You'll need to sign in or create an account to connect with an expert. Enter personal use days under the Property Profile section. Navigate back to the Schedule E section: Select update next to the Property Profile. On the page, Was this Property rented for all of 2016?, select no, then enter the personal use days. See attachment.
Owner occupied rental property and personal use days - Intuit
2022年3月28日 · Mortgage interest and property taxes are divided between personal (Schedule A, itemized deductions) and rental use (Schedule E) proportional to the number of days used for each and square footage rented. Your formula is as follows: square footage of rental space/ total square footage of house times days rented/365 to be allocated as a rental ...
How do I put personal use days? - Intuit
2019年6月5日 · Typically, there would be no personal use days because the space would be ready for a tenant or used by your tenant and not by you. When you are entering your information into TurboTax, be sure that you check the box saying that you rent out part of your home and that you converted it from personal use to a rental during 2021.
Common questions about individual Schedule E in Lacerte
2024年1月8日 · Enter the amount days in the Number of days personal use field. Use this field for any personal use days, even if this wasn't a vacation home. If this was a vacation home, refer to this article for more information.
Rental property switched to personal use - Intuit Accountants
2020年9月25日 · TP moved back into their rental property in 2019. I marked the date of disposal in the asset screen. I did not enter a sales price. I have days rented and personal days used entered on the worksheet. The rental loss is flowing through to the return, even though their income is too high to take a rental loss.
Rental Real Estate and Taxes - TurboTax Tax Tips & Videos
2024年10月16日 · To be treated as a rental property for tax-loss purposes, your personal use of the place can't exceed 14 days or 10% of the days the unit is rented during the year, whichever is greater. While 10% may sound like a lot, it really isn't when you figure that a seasonal rental may only be in demand for two or three months each year.
How can I allocate indirect expenses associated with renting part …
2020年4月14日 · You should enter 365 rental and zero personal days (assuming it was rented all year). Even if it was not rented all year, you need to enter zero personal days, but then manually calculate the proper percentages. In my experience, ProSeries can handle ONE allocation pretty well (space OR time).
About Rental House Tax Deductions - Intuit TurboTax Blog
2011年5月25日 · The IRS does allow a certain amount of personal use of a secondary home without requiring you to do an allocation. However, if you use the home for the greater of 15 days, or more than 10 percent of the days the home is rented, you cannot claim a …
How to calculate Rental days vs Personal use days? - Intuit
2020年6月5日 · Your days rented is every single day from Jan 1 to the day the renter moved out. Your personal use days is ZERO. Your business use percentage is ONE HUNDRED PERCENT. For personal use days and business use percentage, the program is asking you for the days you lived in it for "any" personal use *while the property was classified as a rental*.
How Does Your Vacation Home Affect Your Taxes ... - Intuit TurboTax Blog
2023年7月19日 · Of course, there are rules – to maintain personal-use status of your vacation home (and keep your rental income tax-free), you must rent your home for 14 days or less. If you rent your home for more than 14 days out of the year, then the tax rules change.