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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
The depreciation will be adjusted by the business use percentage computed when you enter the number of rental days and personal use days of the property.
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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
The depreciation will be adjusted by the business use percentage computed when you enter the number of rental days and personal use days of the property.
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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
TurboTaxJulieR,
The number of personal use days was 85, so is the business percentage calculated using (365-85)/365 which is entered as 76.71%?
The number of personal use days was 85, so is the business percentage calculated using (365-85)/365 which is entered as 76.71%?
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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
TurboTaxJulieR,
Is my previous comment an acceptable method for calculating the Business %?
Is my previous comment an acceptable method for calculating the Business %?
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Used rental property for personal use for several months between tenants, do I adjust the depreciation to account for this?
Yes.