I am having trouble with this part and it seems that TurboTax doesn't explain this very clearly. We rent out an attached in-law suite on Airbnb. It is 30% of the house and it strictly used for Airbnb, i.e. we don't go in there other than to clean for the next guests. Anyway, it was available for rent 345 days out of 2018 and we had guests staying 131 nights. First question... do I enter 345 or 181 on the "Days rented at fair rental price" question?
I do not have a home office.
Where it says "Let Us Calculate Your Expense Deductions for You", I want to click NO since I have expenses that were specifically for that part of the house.
When it gets to the section "Tell Us About the Property" I put that the property was our residence in the past since we bought it in 2017 and only started renting it the first part of 2018. My main question is on the section about the property value information. When it asks for the full purchase price, do I enter the purchase price for the whole house or only 30% of the original purchase price? Same with the escrow fees. Only enter 30% of the total fees or the full original amount? Thanks!
