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Investors & landlords
You may need to review your entries under the Property Profile and the rental expense/assets sections.
Did you report that you converted your home to a rental? In this case, you enter expenses for the time it was used as a rental under the Rental Property section (allocation to personal use is covered later under Deductions & Credits).
Did you report that the property was not rented all year? Did you enter the correct number of days rented? Personal use days for this question are for the months the property was rented (not the time you lived there).
Did you enter the full amount for your rental expenses? Mortgage interest and property taxes entered 100% here are allocated by TurboTax to Your Home under Deductions & Credits.
Did you enter 100% business use for the residential rental asset? TurboTax knows the property was rented only half the year, but the residence should have been used 100% as a rental during those six months. You should enter all prior depreciation taken during the time it was used as a rental in the past (from your personal records).
Correcting these entries may solve your income/expenses calculations.
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