The option to have TurboTax do the math is offered if you check the box for "I rent out part of my home" on the page "Do Any of These Situations Apply to This Property?" This question is found under the Property Profile for the Rental Property.
As AnnetteB6 mentioned above, if you have a mix of expense allocations (part of home, part of the year, etc.), you must do the calculations yourself. TurboTax cannot handle calculations for individual expenses.
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