So if a window is smashed while you are living there, cover it up with cardboard and wait until the tenant moves in to repair it. 😀
Seriously though, if the house is full rental use from Jan through May, then I move back in but over the next six months I rent it out for a total of 30 days, can I treat it as mixed use property and allocate my repairs (not cap. Improvmts.) based of rental use days to total use days?
I think the dwelling unit would be a home given personal use exceeds 10% of rental use. So there would be addtl. Limits on carry forward losses, but I could do some interior repairs while living there and allocate some of that expense as a deduction on sched. E. With the $2500 deminimus safe Harbor, that could result in big tax savings. Turbo tax can’t use other inputs to chose between type-of-use-ratio allocation and rental-period allocation, can it? Is there a place to enter all the different dates during the year the house was rented or available for rent?
