How do I complete Schedule E for the room I rented out in my home?

Forum|Forum|6 years ago
June 5, 2019
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How should the 'Type of Property' in Schedule E box 1b and the 'Fair Rental Days' and 'Personal Use Days' be entered on Schedule E box 2, for the room I rented out in my house for part of the year?

TurboTax Premier Windows

Best answer by PaulaM

Indicate under the Property Profile section the type of rental (single family home). This will flow to box 1b on the schedule E. Continue to enter that you rented a part of your home. Then continue to enter the number of rental days used and personal use days, which flow to box 2 on the form.

Note: Personal Use days refers to days that you used the rental. Think of it as a separate unit. Enter 0 if you never used the room while it was rented.

PaulaMAnswer

Employee

Note: Personal Use days refers to days that you used the rental. Think of it as a separate unit. Enter 0 if you never used the room while it was rented.

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taxquestioner

Hello,

I've read that if you are renting just a room, the personal use days are 365 minus the days rented. The room by itself is not a dwelling unit. Am I missing something? Thanks!

AmeliesUncle

@taxquestioner wrote:
Hello,

I've read that if you are renting just a room, the personal use days are 365 minus the days rented. The room by itself is not a dwelling unit. Am I missing something? Thanks!

Entering the personal and rental days is to prorate expenses. That proration based on days is done the same regardless if it is the entire "dwelling unit" or just part of it.

In connection with the proration of expenses, the Tax Code specifically uses the phrase "unit (or portion thereof)".