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Investors & landlords
@Critter-3 wrote:
Since this is a vacation home rental you will enter the # of days actually rented and the # of days personally used.
Yes, technically correct but TurboTax really makes a mess of the vacation rental scenario.
For example, if you enter 30 personal use days and 30 days rented, it will split expenses that should not necessarily be split as a result of the manner in which it is programmed; it will allocate a total of $500 for cleaning expenses after renters depart as only $250 deductible on Schedule E (the other $250 is allocated to personal use).
In order to get the expenses correct, it appears as if you have to do the prorating manually.
‎December 13, 2020
8:01 AM
2,690 Views