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Question

Why its only taking 50% of total rental expenses ? I own a two family house . I live on first floor and rent second floor. The tennant only pays rent and electric bill.

Forum|Forum|4 years ago
April 18, 2022
1 reply
0 views

Yes I use 50% of the property but I pay for all the expenses. but turbo tax is only taking 50% of every expense ? why ? Am I doing it wrong ?

TurboTax Self Employed Online

You pay for all the utilities.

You live in half.

Half the utilities are your own personal expenses.

The other half (50%) is used by the tenant who pays you rent, therefore 50% can be deducted as an expense from the rent the tenant pays.

You can't expense the portion you pay for yourself.

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