KathrynG3
Expert Alumni

Get your taxes done using TurboTax

It depends. TurboTax will split the mortgage interest expense for you, but you will need to calculate the property taxes. During the rental property interview, carefully go through each screen, which will provide more guidance in the learn more links.

 

There are multiple ways to calculate the rental portion of your property tax, so I am going to defer to the IRS to the extent of specifics they do provide.

 

2019 Publication 527 Residential Rental page 21 has Worksheet 5-1 to calculate the divided expense based on the days available for rent. 

 

Further guidance from the publication, from the middle column of page 16: You can use any reasonable method for dividing the expense. It may be reasonable to divide the cost of some items (for example, water) based on the number of people using them. The two most common methods for dividing an expense are (1) the number of rooms in your home, and (2) the square footage of your home.

 

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