does this also apply for other bills such as cellphone which is also needed to conduct rental business? also are these and other broad business expenses (umbrella insurance for entire portfolio/office supplies/computers/software) necessary to allocate to each rental property on a prorata basis? for some reason I was thinking these high level expense would be best entered on a schedule C in just the regular business section of turbotax home & business. however I think not showing income (rent) at the business level but rather only on the rental level (sch E) might prove problematic for tax accounting?
in my mind all of these general costs are part of my entire rental effort including possible costs such as a home inspection or option fee on a contract I walk away from. How would that be allocated to each property since it was costs which were ultimately unsuccessful and have not Sch E property associated with them.
