Is there a limit to what I can include in my investment property utilities expenses? I'm entering one amount in the detail section, but the summary section is different?

Forum|Forum|3 years ago
February 7, 2023
2 replies
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TurboTax Premier Online

Best answer by RedSoxFan21

I figured out why the difference, it’s driven by the number of days indicated for personal use.

Vanessa A

Alumni - Intuit

No, there is not a specific limit. If this is a rental property and you are paying the utility bills, you can include the full amount you are paying. If the utility bills create a loss for the year, you may be subject to loss limitations.

Otherwise, utility bills are a reasonable and ordinary deductible expense.

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RedSoxFan21AuthorAnswer

Level 2

I figured out why the difference, it’s driven by the number of days indicated for personal use.

Is there a limit to what I can include in my investment property utilities expenses? I'm entering one amount in the detail section, but the summary section is different?

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