Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 11, 2024 10:41:07 AM

I rent out a separate part of my house which I own. Is it considered a rental property?

0 1 3555
1 Replies
Expert Alumni
Apr 11, 2024 10:52:48 AM

Yes.  If you rent out a separate or even a room in your house it is considered rental property.

 

When the house is not a stand alone unit away from your personal unit, you will need to allocate expenses based on the house versus rental space/expense.  For example, if your house is 2,000 sq. ft. and you rent out 500 sq. ft. you would only allocate 25% of the expenses to the rental.  The other 75% would be personal expenses that are not deductible.