Question

I rent my home out after some repairs and maintenance, how to deduct the full portion for rental?

Forum|Forum|3 years ago
April 16, 2023
1 reply
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I remodeled my house during summer for rent, I changed carpet in July and repaint the house, the project finished in Sep, and finally rented out on Dec. Turbo tax count only 1 month for those cost into the rent expenses, and 11 month for personal use, I think it doesn't make sense. Shall I deduct them all for rental? How to do it, as I can't modify the forms (sch E part: allocation to personal use) auto filled by turbotax.

Thank you!

H

hubbleboy

You're going to want to double check me on this but it depends on how long you lived in the house. did you live in it while you were making the repairs? If so you can only deduct the portion of the repairs as a percentage of the time you spent living there... ie if you lived there up until dec you can only deduct 1/12 of the repairs. if you lived there till july you can deduct 6/12. if you weren' there all year, you should be able to deduct all of it.... 'should'. you'll have to check that. it also depends how long it was available for rent. last i checked you had to have it available for at least 2 weeks out of the year in order to deduct anything.

please double check that

F

fan17Author

thank you for those information. If I want to adjust it, where can I make a change in turbotax?

V

Vanessa A

If you did not have the property available for rent until December and you incurred the expenses over the summer, none of the expenses are deductible as expenses. Improvements made such as new flooring can be added to the cost basis of your house for depreciation. Things like painting and maintenance are not deductible at all for the time it was not considered a rental property.

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