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Investors & landlords
You will want to enter the 1/4 part that you lived in as a new asset. Four Question 1, you will have to enter that you converted home to rental but not rented a unit in a multi-unit property for this asset. Question 2 becomes No, it was not rented everyday. For this asset you will enter and keep a different depreciation schedule.
For this year you will have to calculate the expenses for the time you lived there as above, but you will have to enter the totals of your calculations- TurboTax will not be able to do this with the multi- divided expenses. Next year, you will be able to enter total expenses without worrying about the split (and be sure to keep the records in case of audit).
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‎February 22, 2023
4:34 PM