Hello. I have three rooms I rent in my house and I live in the other. I have calculated that percent rented is 42.5%. and the rooms are rented for the entire year.
In turbotax for schedule E I have selected that I am renting part of my home.
I have my rental house as an asset. It asks me for the Percentage of time I used this item for this business in 2020..
Is it referring to the entire house, or just the rented portion? i dont know if I put 100% or 42.5% here...
If I enter 100%, when I go back to the asset, the depreciation is too high, its basically 100% of the house being depreciated. However, I don´t know if turbotax is adjusting that number properly on another screen. (multiplying it by the rental % and I am just not seeing it
grateful for guidance. thank you!
