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I bought a house in 7/18 and started renting it in 8/18. Do I split rental expenses like mortgage interest and property taxes, or will TurboTax do it based on dates?
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Turbotax will do it based on dates. You will have to enter the dates it was a personal residence vs a rental property.
To do this:
1. Log into TurboTax
2. Click "Take Me To My Return"
3. Click "Wages and Income "
4. Scroll down to rental income
You will then be prompted to enter information about your property. The next set of questions will ask about the conversion and your expenses will be prorated.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
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