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Investors & landlords
You are correct with the exception of the depreciable basis if you own the home. In that location you can enter the percentage of use.
For the rest of the expenses you should select a single home and then enter the expenses at the percentage you have indicated above and calculated by hand. You can keep an excel sheet or other tracking sheet if you choose to have the figures right there for you. This will appropriately reflect the correct expense costs and the correct depreciation.
The details can be so different based on each individual case that the easiest way is to have your figures ready in a case such as yours so there is no question all the expenses are being utilized as you expect.
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‎January 30, 2023
12:18 PM