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New Member
posted Mar 12, 2020 12:35:16 AM

Am I able to report part of my real estate taxes for the home I live in and part of my home is rented out to others? If so how much am I able to report?

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3 Replies
Expert Alumni
Mar 12, 2020 5:36:25 AM

Do you report rental income on your return?

New Member
Mar 14, 2020 12:11:46 PM

Yes I do report the rental income

Expert Alumni
Mar 14, 2020 12:18:18 PM

You can deduct as a rental expense the part of the home mortgage interest and real estate taxes attributable to the rental portion of your home.

 

If you rent out 20% of your home, based on square footage, you can deduct 20% of those expenses.

 

When you enter the rental property, TurboTax will ask if it is part of your home, and walk you through the entries.

 

@Twa