Wow, what a beautiful answer. I certainly appreciate your custom/tailored responses to my individual situation! One snafu you identified that did not agree with my draft tax return is the Rental Use Percentage calculation. You refer to only using the square footage that is 'exclusive' to the renter. In my case, since I have a 2 bedroom 1 (shared) bath, the only truly exclusive space belonging to my roommate is her bedroom. However, another SuperUser has indicated, with some subsequent disagreeing feedback from community, that the common square footage (ie total space, minus my exclusive bedroom, minus her exclusive bedroom) can also be claimed in the rental percentage calculation. The question/answer to this calculation method is below. I had been following that guidance, so when I look at the total apartment size (750 sq ft), subtract my exclusive space (150 sq ft), and subtract her exclusive space (125 sq ft) we have 475 of shared space. By that other SuperUser's remark, I should be able split the 475 sq ft shared space by 2 (= 237.5) and my rental use area would be 237.5 + 125 (362.5), and when divided by the total area of 750 sq ft I get a percentage of 48.33%. Using the 'exclusive' space of 125sq ft alone results in a % of 16.66%.
In any event, the change in refund is only about $400, and either way TT says my audit risk is as low as it gets. But, it sure would be a nightmare to be randomly or selectively audited and then find out I had used the wrong method!
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