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Personal use of property rented

I lived in my home from Jan-April of 2016.  I started renting it in May 2016.  I'm confused how many days to put as "personal use during the year".  I own the property and this is the first time I rented it.  In May 2017 it will have been rented for a full 12 months.
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1 Reply
PaulaM
Employee Tax Expert

Personal use of property rented

Think of your rental as a separate unit. You will be allocating some of your personal expenses between the rental and your personal deductions, such as mortgage interest, insurance, and property taxes.

If you rented your home for the rest of the year, then enter 0 as the personal use days. The personal use days means did you use the rental personally after it was placed in service (like a vacation property).

On the page, Do Any of These Situations Apply to This Property?, mark the boxes for first year to rent and that the property was converted from personal use to a rental in 2016.

On the page, Was This Property Rented for All of 2016?, answer no, then enter the number of days rented after you moved out and your personal use days as '0'.

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