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April 2, 2025
Question

How do I enter my room rental? The form doesn’t ask for square footage. Now it is deducting 100% of all my expenses.

  • April 2, 2025
  • 1 reply
  • 0 views
The home business VRBO room rental is deducting 100% of my taxes, electric bill, gas bill etc. Seems like it should only be a percentage.

    1 reply

    AmyC
    Employee
    April 2, 2025

    Great catch, let's get you prorating. 

    First, in the general property information, check that you marked "I rent out part of my home".

    Second, select a method, enter percentages and numbers.  There are two options, either way you must know the percentage for the rented portion.  For my example, I will use 25% rental.

    • You do the math:  Enter your %, example 75% of the mortgage interest and property taxes under deductions and credits. Enter the other 25% on sch E for the rental.
    • Let the program do the math: Delete all numbers from deductions and credits. Return to Sch E to the property profile. Select that you rent part of your home, enter the percentage and select for the program to do the math. The program will put the correct 25% amounts on Sch E and pull the rest to Sch A.

     

     

     

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