Rented room in House for October, November, December

[charris25]

On forms I split the property tax between the 9 months I had no renter and the 3 months I had a person. For the expenses I took the expenses of the 3 months / divided by the total number of people. I took that amount, multiplied that by the number of renters and entered that expense. Correct way?

[Coleen3 · Accepted solution]

Did you live in the rest of the the house and rent one room or did you have a vacant property for 9 months and a tenant for three?

If you lived in the house, you need to indicate you a had a multi-family rental on the two screens below. You need to separate you the rental portion (room) from the personal portion. If you use the room personally during the time therre is no renter, you need to prorate expenses for that percentage of the house times the three months of usage.

Example: Property taxes ($4000) with 75/25 percent personal/rental

Personal $3000 Rental $1000

$1000 divided by 12 months times 3 months rental=$250

[charris25]

Thank you Turbo Tax Coleen

[Coleen3]

You're welcome. Don't forget to put the personal portion of mortgage interest and property taxes on Schedule A.

[charris25]

Thank you for the reminder

[charris25]

Hi - Hope it's ok I ask another question. Based on your guidelines I did the expenses of the 3 months 75/25, taxes and mortgage interest 75/25 and divided taxes and mortgage interest by 12 and then did 3 months. My question is: on my TT tax break page my total mortgage amount is just about 300 dollars short of the real amount and property taxes is about 700 short of the real amount. Thank you for any input

[Coleen3]

It should add up to 100% between the Schedule A and Schedule E.

[charris25]

Thank  you TurboTax Collen. After I emailed you I reviewed and saw how they added up to 100%. Thank you for your assistance.