TT and multiple units not all rented all year

Forum|Forum|2 years ago
February 28, 2024
1 reply
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With TT 2023 the program asks if the rental property has been rented all year. Parts of mine were not rented all year, but the next screen only offers the number of days it wasn't rented as though it were one single unit. How do I differentiate this? I have TT marked with a multiple-unit property. ONe unit was rented all year, one other was not.

TurboTax Home & Biz Windows

PaulaM

Employee

Enter the days rented for the one that was rented. It isn't easy to accomplish otherwise when selecting multi as a property type. In the future should you acquire another multi property, its much simpler to enter as separate units.

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Carl11_2

Employee

If you have occupancy of units that overlap, then the property was rented the entire year. The fact that one more more units may have been empty for a period of time doesn't matter. It makes no difference on your tax liability. The only thing that does make a difference, is if you lived in any one of the units as your primary residence, 2nd home, vacation home or any other personal use, for one or more days during the year.