RobertB4444
Expert Alumni

Deductions & credits

If you are entering this as a rental on schedule E then you think of it as a business.  Figure out what percentage of the home she is renting.  That's the first step.  @VanessaA gave you several options but let's do the easiest for this example and take is as a percentage.

 

You are renting 25% of the house to your mother.  The income is $1300 a month.  The expenses are 25% of all of the utility bills you have paid on the house for the year, 25% of the property taxes and 25% of the mortgage interest.  If you have anything else that you spent money on at the house for the year you can take 25% of it or you can take 100% of it if it was done directly for your mother in order for her to live there.

 

When you enter this into TurboTax you can enter the percentage of the house that you are renting and then just the total for each of those bills and TurboTax will figure the percentages for you.

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