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Investors & landlords
That is correct, it is asking if you have an office in another part of your home rather than as part of the rented portion of your home.
Because there is an office in the home as well as a rental in part of the home, you will not see the option to allow TurboTax to do part of the math for you based on the square feet of the rental space. You will have to do all the prorating and allocations yourself and only enter the expenses pertaining to just the rental space.
This is due in part to the home office information being entered in the Schedule C section of your return and both areas using some of the same expenses but prorated by the area of the home used for the different business purposes and the time it was used as well.
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March 29, 2022
6:27 AM