Home office and rental income entries for same property

Forum|Forum|1 year ago
January 27, 2025
2 replies
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I rent 50% of my home, and have a home office. Within rental income I entered 50% of expenses. For home office, I followed the questions and entered the whole home sq ft and full expenses. Do I also need to limit the sq ft to match the 50% of use in the property, and also use 50% of expenses as well for home office? What entry amounts should I be using in schedule A for interest and taxes? TT is pulling these whole home amounts into schedule A?

Not A Product Question

Best answer by PatriciaV

Yes, enter only the square footage that you occupy under the Home Office topic. Likewise, any expenses shared with the rental space should be reported at 50% for the Home Office.

Complete the Rental Property section, including property taxes and mortgage interest, before you work on the Home Office topic. TurboTax will allocate the correct personal percentage to your itemized deductions and should present that amount to be allocated to your Home Office.

Be sure to review Form 8829, specifically Lines 10 & 11, to confirm that you are claiming the correctly allocated amount of mortgage interest and real estate taxes for the Home Office Deduction.

PatriciaVAnswer

Employee

Yes, enter only the square footage that you occupy under the Home Office topic. Likewise, any expenses shared with the rental space should be reported at 50% for the Home Office.

Be sure to review Form 8829, specifically Lines 10 & 11, to confirm that you are claiming the correctly allocated amount of mortgage interest and real estate taxes for the Home Office Deduction.

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mbarcosAuthor

As I read it, Rental expenses are 50%, and Home Office expenses should also be 50% based on personal usage of living space, and let TT calculate actual usage based on Home Office sq ft. Thanks for responding.