Question

I began renting part of my home this tax year. TT makes the split for time not rented vs rented, but not for the part rented vs owner occupied. How to fix?

Forum|Forum|5 years ago
March 12, 2021
1 reply
0 views

So, for instance, the property taxes are entered as the full amount, but the program shows it as being the part for the time rented (last 9 months of the year) but does not make the split for the portion of the property that is rented vs part that I occupy. Must I do this manually?

TurboTax Premier Online

Carl11_2

Employee

When renting a part of your home, in that first year you do that, one of the questions is mis-worded, resulting in you providing in incorrect percentage figure. You don't even realize it, and the program does not flag it either, because "mathamatically" it's not an error.

The question asked is "Percentage of time I used this item for business in 2020 (e.g. 80%)" The question should be "percentage of floor space that is being rented out". Now you were asked that question earlier. So if you put the same percentage in this box, and you did on a previous screen, the program will figure things correctly. Below is a screen shot of the screen in question here.

J

JDB2010Author

Thanks, This would be an awesome reply, if I could find the screen you're referring to in your response, but I'm not seeing it -- can't figure out how to get there.

Carl11_2

Employee

Just wk through the property in the SCH E section the same exact way you did the first time. The only difference is, on that screen where you see "Add Another Rental or Royalty", you won't click that button. Instead, you'll click the EDIT button next to that property, as you'll see it listed there since you've already entered it.