How do I enter an owner-occupied duplex in TT? I bought the building in 2018 and live in one unit while renting out the other.

[g-k-]

How do I enter an owner-occupied duplex in TT? I bought the building in 2018 and live in one unit while renting out the other. So I need to set it up in TT such that the rental unit and my unit are defined correctly with the appropriate depreciation going to the rental.

Do I first enter the rental unit in the income section, with the mortgage interest, insurance and other expenses allocated to it? Or do I enter the house purchase and mortgage interest in the itemized deductions first? Do you have to manually allocate the expenses to both units or do you enter all of them in one place and set a % which TT then uses to allocate them to each unit separately?

When you set up a new rental property, you enter the purchase price, escrow fees etc. that was paid for the entire building (rental+owner unit). How do you adjust those amounts so that the correct depreciation amount is applied to rental and self-occupied units?

Some guidance will be much appreciated.  

Thanks,

[Coleen3]

In the rental section there are two spots to indicate this. Say that it is a multi-family and that it is a duplex. See screenshot in the answer.

[Coleen3]

Duplex entries.