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splitting rental expenses between personal and rental

I have a rental property that I use the barn on. We rent the house and most of the land. I assign a percentage to each. I have a database with all my expenses and I get a number which I then multiply by the percentage to allocate the proper portion to the rental. How do I enter this in TT? It wants each expense, and it wants to cross reference interest and taxes to other areas. I want to enter 1 number.

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1 Reply
PaulaM
Employee Tax Expert

splitting rental expenses between personal and rental

Treat the rental as a separate unit. Then you just enter the proportionate share of expenses. Do this for the property basis as well for depreciation (except land).

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