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penday
New Member

Hi - I have a multi-family - 3 apartments, one of which I live in. Do I have to enter each rental apt separately, or just as a single property in the Rental Section?

 
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2 Replies
DanielV01
Expert Alumni

Hi - I have a multi-family - 3 apartments, one of which I live in. Do I have to enter each rental apt separately, or just as a single property in the Rental Section?

Per IRS rules, treat each unit as separate properties.  If your mortgage interest, taxes, and insurance comes in one bill to you, you will need to proportion the amounts separately to each unit.

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Carl
Level 15

Hi - I have a multi-family - 3 apartments, one of which I live in. Do I have to enter each rental apt separately, or just as a single property in the Rental Section?

You can enter it as a "multi-family unit" or enter each one separately. I myself would enter each one separately because it keeps the paperwork simple should I later decide to sell or otherwise dispose of one of the units in the future for whatever reason. Or if I decide to move out of the one I live in and convert it to a rental.

 

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