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Level 2
posted Apr 13, 2023 7:48:21 AM

Fair rented days - how to calculate!

Hi there -

 

I have a property that I converted to a rental at the beginning of the year:

  • Lived in the property: Jan and Feb (59 days)
  • Converted to a rental/made available for rent: Beginning Mar 1
  • Got a tenant/received rent: Beginning Apr 1 (through end of year)

I know personal use days is 0, since I did not use the property after it was available for rent. But what do I put for Fair rented days? 275 days (beginning Apr 1) or 306 days (beginning Mar 1)?

 

Thanks so much for your help!

0 3 291
1 Best answer
Expert Alumni
Apr 13, 2023 7:57:10 AM

You count the days since the property was available for rent., i.e. from March 1.

3 Replies
Expert Alumni
Apr 13, 2023 7:57:10 AM

You count the days since the property was available for rent., i.e. from March 1.

Level 2
Apr 17, 2023 11:14:25 AM

Just to verify, this would be the date (March 1) where I begin deducting expenses like mortgage interest and property taxes?

Expert Alumni
Apr 17, 2023 11:25:47 AM

Yes, March 1 - the date it was available to rent.