- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
From the time the property was available for rent and marketed as such, and if there was no personal use after that date, all expenses paid from that date forward would be allowed in full. If you paid property taxes and/or mortgage interest for the whole year and the property was not available for rent until later in the year or it was used for personal purposes before it was a rental, then certain expenses must be prorated.
My advice is to calculate the property tax and mortgage interest that pertains to the rental period for this partial year of rental activity. Enter that portion in the rental activity and the remainder under Deductions and Credits. In this section TurboTax Online explains to enter the rental portion in that section.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 9, 2023
6:46 AM