@michaeljulieorta wrote:
But why would only a portion of the Utilities (the utilities paid DURING the 3-month rental period) be deductible. Those utilities were only for the renters.
TurboTax, the program, is coded to allocate certain expenses to rental use only and other expenses to allocate between rental and personal use.
For example, where there is personal use and rental use during the tax year, expenses such as advertising, auto, travel, commissions, management and legal fees are generally allocated 100% to rental use.
On the other hand, expenses such as cleaning and maintenance, insurance, utilities, repairs, taxes, et al, are allocated to rental use and personal use based on the number of personal use days during the tax year.
If your allocation differs, then you need to input the exact dollar amounts allocated to rental use into the program.
