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Investors & landlords
I had entered it as 50% rental usage and added 100% of the expenses and let the program do the math.
Hope you didn't do that for "all" expenses - especially insurance. With your method (which is fine) I don't think the program correctly prorates the property insurance, since that is not a deductible expense on SCH A for the personal use percentage. I would suggest you check the numbers on SCH E and the associated worksheets to confirm.
‎January 31, 2024
8:56 PM
1,049 Views