Thank you @RobertB4444 and @AnnetteB6
Given your responses, the overall "percentage rented" (including days rented or available for rent) could vary from year to year, depending on how many days my whole house is available for rent that particular year. How would I handle the depreciation expense each year?
With my other rentals I'm used to turbotax computing a straight line depreciation for 27 years and automatically computing the depreciation of the same asset each year, which is very convenient.
Say the "percentage rented" is 70% in year 1 and 80% in year 2.. and the value of the home (minus the value of the land) is $100K. What value should I plug in to Turbotax for year 1 (2022) for the value of the home? And what changes do I need to make in Turbotax in year 2 (2023) to make sure the depreciation expense is correct? I'm hoping that I can just make a change in Turbotax each year rather than have to compute this manually each year.
