We have a short term rental property that was damaged by Hurricane Beryl. We also use the property for personal use and our rental property expenses are split between rental days and personal days as required by tax code. When I input the casualty loss into TurboTax, will the loss then be split between rental and personal expenses? Since I usually have a rental property loss each year AND I cannot take a loss on a STR, does that mean the part of my casualty loss assigned to the rental property may be reduced? Is it better to apply the full casualty loss as a personal expense. Forgot to mention that the property is in a declared Federal disaster area, so claiming as a personal loss is allowed. Thanks.
