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I'm renting part of my condo, so I rented it all year (365 days) and also used it personally all year so how should I note this on the schedule E worksheet?

 
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2 Replies
PaulaM
Employee Tax Expert

I'm renting part of my condo, so I rented it all year (365 days) and also used it personally all year so how should I note this on the schedule E worksheet?

Think of the part of your condo as a separate unit. Enter in TurboTax as rental and under the Property Profile, indicate that you rented a part of your home on the page, Do Any of These Situations Apply to This Property? 

On the page, Was This Property Rented for All of 2016?, the question is referring to the part of your condo (the rental unit). Answer 'yes' if the unit was rented all year. Do not enter any days of use if you are answer 'Yes'. If you did, select the 'no' box and remove all entries. Then re-select the 'Yes' answer.

Answer 'no' if your rental unit was not rented all year and enter the rental use days and the personal use days for that unit or room. Ex: Even though you personally used the condo the entire year, if you rented a room for part of the year, then you would not be using that room for the entire year.

 See attachments.

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Anonymous
Not applicable

I'm renting part of my condo, so I rented it all year (365 days) and also used it personally all year so how should I note this on the schedule E worksheet?

What if I rented out one room of my condo for part of the year and then moved out and rented the entire condo for part of the year?  For example, I lived in the upstairs bedroom of the condo and rented the downstairs bedroom starting in January 2017.  I moved out in June 2017 and added another renter for the upstairs room in July and kept the original renter of the downstairs room.  Both rented for the remainder of the year.

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