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ibensi01
April 13, 2023
Solved

Fair rented days - how to calculate!

  • April 13, 2023
  • 1 reply
  • 0 views

Hi there -

 

I have a property that I converted to a rental at the beginning of the year:

  • Lived in the property: Jan and Feb (59 days)
  • Converted to a rental/made available for rent: Beginning Mar 1
  • Got a tenant/received rent: Beginning Apr 1 (through end of year)

I know personal use days is 0, since I did not use the property after it was available for rent. But what do I put for Fair rented days? 275 days (beginning Apr 1) or 306 days (beginning Mar 1)?

 

Thanks so much for your help!

    Best answer by MinhT1

    You count the days since the property was available for rent., i.e. from March 1.

    1 reply

    M
    MinhT1Answer
    April 13, 2023

    You count the days since the property was available for rent., i.e. from March 1.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
      I
      ibensi01Author
      April 17, 2023

      Just to verify, this would be the date (March 1) where I begin deducting expenses like mortgage interest and property taxes?

      DawnC
      DawnC
      Employee
      April 17, 2023

      Yes, March 1 - the date it was available to rent.  

      **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
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