Hello
We have a second home that we use occasionally and we also rent occasionally in the summer months for short term weekly rentals. Regarding rental expenses, I understand that for the property taxes and mortgage interest that I enter 100% of the expense under Income under Rental Properties and then turbo tax automatically allocates the expenses between rental expenses (schedule E) and personal expenses (schedule A).
However I am not sure about expenses like utilities and maintenance. Do I enter 100% of the property utility bill and maintenance expenses under Rental expenses and Turbo tax will automatically allocate between rental and personal use? (like with property taxes) Does turbo tax automatically allocate these types of expenses like utilities? Or do I need to do the math myself and only enter the rental portion of the utilities?
It is not clear to me what expenses Turbo Tax automatically allocates the rental portion.
Please help, Thank you.
