Thanks you Carl. I still have many question listed below:
1, How much rental property I should have. Currently
- I create a Property Profile and selected both "I rent out part of my home" and "I converted this property from personal use to a rental in 2021".
- I selected "No, this property was not rented all year", how much days I should input into "Days rented at a fair rental price"? 300 days(for 10 months partial rental) or 340 days(partial rental plus 40days fully rental after converted)?
- I noticed with above options there has no way I can input how much rate of my house was rented in the partial rental period.
2, I have some supplies for first 10 months partial rental also some repair for the fully rental after converted such as paint, front door replacement, etc. As only one property profile I created, how I can input these two types of expenses there? I simply add them up or I need to separate them as they are different type. Should I create two property profiles for these two period?
3, I don't know how it calculate the interest and property tax for Schedule A. After input with the full interest and property tax from rental, I noticed the prorated interest and property tax in Schedule A were not calculated correct as I have no way to input the prorate from the partial rental.
4, The depreciate seems only can be manually input. I didn't input any of depreciate there and it doesn't show any of depreciate from the assets/depreciation section.
I am not sure if there any mis-configuration on my TurboTax, it seems TurboTax can't can't handle it totally.
