First, calculated the days the home was available for rent, then divide that by total days in the year (366). Use the percentage you calculated times the mortgage interest and real estate taxes. Enter these figures in your rental Schedule E and the balance as itemized deductions on Schedule A.
Note: From the day you converted the property to a rental activity it was used 100% for that purpose assuming it was not converted back to personal use. You should split any expenses yourself to make things clear and simple such as insurance, utilities, repairs, etc. Be sure to enter the full cost basis including land, then enter land when requested. TurboTax will calculate the proper depreciation for the building only.
For any expenses directly related to the rental period you should enter 100% of the expense.
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