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AMGSF
New Member

I rented my house for half the year. In rental expenses TT asks me to list mortgage interest and property taxes. Do I enter the amount I paid for 12 mo. or for 6 mo?

I would think I enter the amount for the full year and TT would calculate the appropriate amount based on the amount of time I rented the house. But perhaps this is wrong.
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2 Replies

I rented my house for half the year. In rental expenses TT asks me to list mortgage interest and property taxes. Do I enter the amount I paid for 12 mo. or for 6 mo?

You are correct.  Turbo Tax will figure the correct amount to put on your Schedule E, and automatically carry the rest to Schedule A.

AMGSF
New Member

I rented my house for half the year. In rental expenses TT asks me to list mortgage interest and property taxes. Do I enter the amount I paid for 12 mo. or for 6 mo?

Thanks, your answer suggests Turbotax will do the calculations. However, I am still confused, because I did the same thing in 2015 (rented the house I own for half the year and lived in it the other half) and yet now the expenses are showing up in the Rental Summary as having doubled in 2016 even though they should be approx the same as 2015. It could be that I got it wrong in 2015 or in 2016. Turbotax's treatment of this is confusing. After I indicate "I converted this property from a rental to personal use in 2016" Turbotax states the following: "If you moved into your rental and made it your personal residence in 2016, you need to divide up your expenses. Identify the expenses you incurred while it was a rental versus the expenses you incurred while it was your home." This suggests I need to do the calculations myself and then enter them prorated. Also very confusing is that Turbotax states:
"The number of days during the year you lived in this rental property after converting it from a rental do not count as personal use days and should not be entered as personal use during the year." I entered '0' but find the Turbotax wording is here is confusing. Basically I just rented out the house I usually live in while I was overseas from July 2015 to July 2016. Not sure how Turbotax could make it so complicated. Help!
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