I rented out rooms in our home residence for three months.
In light of the comment, the recommended answer appears incomplete or incorrect. TurboTax allocates based on the days of rental use. If you allocate before entering in Turbo Tax, as suggested by the recommended answer, the program will allocate again based on the days of rental use thereby reducing the allowable expense. Please clarify.
Turbo Tax notes that you must divide expenses between the part of the property used for rental and personal purposes using a reasonable method, e.g. number or rooms or square footage. I divided expenses using the number of rooms and the expense for the three month rental period. For example, utility expenses vary from month to month. Accordingly, I took the utility expenses for the rental months and allocated the expense based on the number of rooms. When I entered the amount determined in this manner, TurboTax reduced the expense based on the days of rental use. This seems incorrect since I allocated only three months of utility expense. Please clarify.
I would appreciate a response from Turbo Tax.
