Situation - I have an AirBnB in my full basement. It is rented 350 out of 365 days / year. When basement not rented it is NOT used for personal use.
The rest of the house is my personal space/personal use 100% of time.
In the WAGES AND INCOME section of TT, I am entering my rental property info.
Under ADD EXPENSE or ASSET I addded the Rental Property at an asset.
On the next few screens I added:
date the property in service, that it is a Rental Real Estate Property, and that it is categorized as a Residential Rental Real Estate (not appliances, carpet, furniture or land improvement). I entered the cost, cost of land, date acquired.
Under screen 'tell us more abo.ut this rental' I listed that I purchased it and here is where I get stuck. Is it referring to the whole home here or just the basement? Since i do not use the BASEMENT airbnb for personal, I'm guessing I say 100% but it is confusing as I don't want to represent that the entire property (multiple floors of living space) is a rental.
It asks: Have you used this item 100% for this business since you acquired it?
Options:
Yes, I've always used this item 100% of the time for this business. |
No, I have not always used this item 100% of the time for this business. Learn More |
