Hi,
In the fall of 2024, I purchased a house and converted the previous house to a rental. I'm trying to add the rental info into TurboTax and the numbers looks wrong.
In the property profile, I entered:
* "2024 was the first year I rented this property"
* "I converted this property from personal use to a rental in 2024."
* Days rented at fair rental price: 92
* Personal use during the year: 0
After entering all of the expense, the full amount of expenses shows up on the rental summary screen. Since the house was only rented 92 days out of the year, I would have expected to see about 25% of the expenses. Was I supposed to have scaled down the numbers myself prior to entering them in? For example, instead of the full property tax amount should I have entered the result of (92/360)*property tax amount ?
Thanks.
