For a rental property, How should I set indirect expenses if the rental property was empty for half the year, occupied by my for 20% and renters for 30%.

Forum|Forum|3 years ago
March 29, 2023
2 replies
7 views

It looks like the "Days Rented" and 'Percent of tenant occupancy" affect this, but not how I would expect.

ProConnect Tax

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Best answer by TaxGuyBill

You use the "Days Rented".

In your situation, using the 'regular' way (not the Tax Court method), the expenses would be 60% deductible as rental expenses (60% of the time the home was used).

Is that what it is doing?

T

TaxGuyBillAnswer

Level 15

You use the "Days Rented".

In your situation, using the 'regular' way (not the Tax Court method), the expenses would be 60% deductible as rental expenses (60% of the time the home was used).

Is that what it is doing?

G

ghunter999-gmailAuthor

Level 2

Thanks. you are correct. I realized that I need to ignore the percent occupied and make sure that was 100% and then make sure the rental days and personal use days were correctly entered and that fixed it.

George4Tacks

Level 15

Contact Support EITHER https://proconnect.intuit.com/community/proconnect-tax-news-updates/discussion/proconnect-tax-assistant/00/234845 OR https://proconnect.intuit.com/support/en-us/help-article/intuit-account-settings/contact-proconnect-tax-help/L031xWrR5_US_en_US?uid=le1lkg4y

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