If I input 365 years on the system and allocate the expenses manually, I can get a loss. But if I put 245 days in, I cannot as expenses are always matching income, which makes no sense because I'm a Real Estate agent.
You'll need to sign in or create an account to connect with an expert.
Being a real estate agent makes no difference at all. If there was personal use then everything is allocated. If there was no personal use, then your entries were incorrect because you should have said that business use was 100%, meaning there was no personal use once you started renting it.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
SelenaP
New Member
RefundableAOTC
New Member
lyratg
New Member
awillis393
Level 2
semperfi_vaughn
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.