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February 3, 2025
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I rented out a house for 9 months in 2024. The landlord insurance, repairs, and maintenance is being prorated when they should be considered at 100%. how do I update?

  • February 3, 2025
  • 1 reply
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    Best answer by DianeW777

    Here are the steps to get to that section so that you can enter your expenses that are 100% for the rental activity (no personal expense portion).

    1. Open your return in TurboTax Online/Mobile or TurboTax Desktop
    2. Search (upper right) Type rentals > Click the Jump to.. link
    3. Select Edit beside Rental Property Info > Select Edit under Situations  > Continue
    4. Select Converted home to rental or rental to home > Continue > Select From primary residence to rental > Continue
    5. Select the same on the next screen > Select 'Yes' property was rented all year - You will break down any expenses that do not pertain to the rental period.
    6. Select 'Yes' it was always rented at fair rental value (FRV) > Continue
    7. Enter your expenses yourself and they should be at the amount you entered

                                    

                                                               

                                                                

                                                                                   

    1 reply

    February 4, 2025

    It depends. If you converted a house from personal use to rental use, then you would select that check box and put the date you placed it in service for rent.  If it was rented at fair rental value and there was no personal use of the house, then be sure to say 'Yes' it was rented all year (if it was available for rent all year, even if you didn't have a tenant). If this is the case, then you should not be entering any days it was or was not rented.

     

    If you did enter days of rental use and other use, do not choose to have TurboTax calculate the expenses for rental period.  Instead, you should enter all of the expenses yourself.

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    February 4, 2025

    Hi Diane,

     

    I can not locate this setting.  Although we did occupy the house for 2 months, the landlord insurance was bought exclusively for that property once we moved out.  In addition to the maintenance we did.  I do not want those prorated as they were part of the rental process.

    DianeW777Answer
    February 4, 2025

    Here are the steps to get to that section so that you can enter your expenses that are 100% for the rental activity (no personal expense portion).

    1. Open your return in TurboTax Online/Mobile or TurboTax Desktop
    2. Search (upper right) Type rentals > Click the Jump to.. link
    3. Select Edit beside Rental Property Info > Select Edit under Situations  > Continue
    4. Select Converted home to rental or rental to home > Continue > Select From primary residence to rental > Continue
    5. Select the same on the next screen > Select 'Yes' property was rented all year - You will break down any expenses that do not pertain to the rental period.
    6. Select 'Yes' it was always rented at fair rental value (FRV) > Continue
    7. Enter your expenses yourself and they should be at the amount you entered

                                    

                                                               

                                                                

                                                                                   

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"