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Thank you so much! This corrected my problem of the rental expenses being prorated by Turbotax.
My tenant moved out in March and in April I had to do some repairs, cleaning and maintenance prior to converting the property to my personal residence in May. Am I able to deduct expense items performed in April as rental expense (things like drywall repair, painting, grout cleaning, carpet cleaning, lock rekey, misc. cleaning supplies)? These expense items were incurred prior to converting the property as my residence in May. Thanks again for your expertise!
@TaxingFool wrote:This corrected my problem of the rental expenses being prorated by Turbotax.
If you had any personal use of the property during the time it was also being used as a rental, then you need to enter those days as personal use days. Otherwise, your personal use days are zero.
@TaxingFool wrote:Am I able to deduct expense items performed in April as rental expense (things like drywall repair, painting, grout cleaning, carpet cleaning, lock rekey, misc. cleaning supplies)? These expense items were incurred prior to converting the property as my residence in May.
This is your call. If you took the property out of service as a rental prior to making the repairs, then the costs of the repairs are not deductible as rental expenses.
If you would have accepted a tenant during that same time period, then you can deduct the cost of repairs.
Since you stated that you planned to convert the property to use as your residence, it is likely that the repairs would be viewed as having been performed on personal use property and, therefore, not deductible.
Did you find out how to make manual adjustment? I use turbotax software, I can't adjust it.
@wendy121 wrote:
Did you find out how to make manual adjustment? I use turbotax software, I can't adjust it.
You have to be using a desktop version of TurboTax and then you can make the adjustment in Forms Mode on the Schedule E Worksheet.
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