@TaxingFool wrote:
For property converted from rental to personal property in a given year, how do you make the manual adjustment to report actual repair expenses incurred for the rental property? Turbotax is prorating these expenses between personal days and rented days....
You need to make the adjustment manually on the Schedule E Worksheet (that typically requires using Forms Mode, which is not generally available in the online versions of TurboTax).
Note that per Section 280A(e)(1), taxpayers are required to allocate expenses between rental and personal use.
In any case where a taxpayer who is an individual or an S corporation uses a dwelling unit for personal purposes on any day during the taxable year (whether or not he is treated under this section as using such unit as a residence), the amount deductible under this chapter with respect to expenses attributable to the rental of the unit (or portion thereof) for the taxable year shall not exceed an amount which bears the same relationship to such expenses as the number of days during each year that the unit (or portion thereof) is rented at a fair rental bears to the total number of days during such year that the unit (or portion thereof) is used.
@TaxingFool
