ColeenD3
Expert Alumni

Investors & landlords

1. In the Mortgage Interest/credit section, should I enter a prorated interest/property tax I paid for 9 month I lived, not full year? You would include 3 month's worth on Schedule E and the balance on Schedule A.

 

2. In the Income section, day rented should be 90 days and Personal use should be 0 since I didn't live when the tenant lived. Yes.

 

 

3. In the Income section,  I believe that Turbotax automatically calculates a prorated interest/property tax for 90 days. Yes, but I prefer to do it manually.


4. Because I moved back in, I don't qualify to deduct some expenses, e.g., repair, HOA, depreciation. Correct, these are only expenses while it is producing income.