Airbnb rental expenses

[SROak]

I rented my home via Airbnb for 32 days, and when TurboTax asks for the property tax, mortgage interest, utilities, etc., does TT need the total annual amounts or only the prorated amounts for the 32 rental days?

[SabrinaD2 · Accepted solution]

When reporting your Airbnb rental expenses in TurboTax, you need to prorate the annual amounts for the 32 rental days. This means you should only report the portion of property tax, mortgage interest, utilities, and other expenses that correspond to the days the property was rented out.

Example of Prorating:

• Annual Property Tax: $3,600
  • Prorated for 32 days: $3,600 / 365 days * 32 days = $315.34
• Annual Mortgage Interest: $12,000
  • Prorated for 32 days: $12,000 / 365 days * 32 days = $1,050.68
• Annual Utilities: $2,400
  • Prorated for 32 days: $2,400 / 365 days * 32 days = $210.41

Original Post

[SROak]

That's exactly what I needed to know. I appreciate your clarification.

Other posts included comments about providing TurboTax the annual interest and property tax payments, and then prorating the other expenses (insurance, utilities, maintenance, HOA, etc.) but that didn't make sense to me.