RobertB4444
Expert Alumni

Get your taxes done using TurboTax

First, the most important question is what percentage of time was the house 'available for rent'.  That's the key question - not the percentage of time that it was actually rented.  If she rented it our 62% of the time because she didn't  have it advertised or available to be rented then 62% is correct.  But if it was available one hundred percent of the year but only had people renting it 62% of the time then the correct application is 100%.

 

This available to rent percentage is what you will use to figure out the percentage of the home to be depreciated as well as the deductible percentage of costs for the home.  

 

Once you have input the business use percentage the system will calculate the percentage of deductions available.  You can enter the full amounts and they will get properly calculated.

 

@iowadavid 

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