I own a 3 bedroom condo. I split it and now rent it as 2 separate units (a 1 bedroom & a 2 bedroom). How do I enter this in rental property since we only pay 1 mortgage?

[court1]

I can't list as 1 unit since the rental days combined exceed 365 days.  We only pay 1 mortgage and have 1 insurance policy.

[AnnetteB]

If you do not have any personal use for the property, it would be simpler just to leave it as a single property.  There is no need to divide the income and expenses between the two areas since they are all under the same roof and used for business purpose whether it is rented or not.

Count the day as a rental day if either section has been rented and combine all the income together.

[court1]

So if both units are rented the same day, it's ok to count as 1 rental day rather than 2 rental days?

[AnnetteB]

Yes, the rental days are used to calculate allocations for expenses when there is personal use involved.  If you count the whole property as one unit, any portion of it being rented counts as a rental day.  

[court1]

Thank you!