You will need to manually calculate the portion of your deductible expenses that should be reported under your rental section (Schedule E) and your itemized deductions (Schedule A). You can calculate this proration based on days.
For example: assuming your mortgage interest was $12,000 for the year you'd enter $5,114 as your deductible mortgage interest for the year. (156 days rental / 366 days total * expense)
TurboTax will prorate expenses if you used the property for personal use after you converted it to a rental property.
For example: if you used the property for personal reasons for a week after you converted it to a rental property, TurboTax would calculate how much of the $5,114 calculated in the prior example is deductible as a rental expense. The remainder would be carried to your itemized deductions.
