- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
When I rented my home only part of the year, how do I show rental-only expenses versus shared year-round expenses in Turbotax Desktop?
I rented my place with Airbnb 49 out of 365 days in 2023.
In Turbotax Desktop, how do I distinguish rental-only expenses such as:
- - A cleaning service to clean between and after short-term rentals.
- - Supplies for gift basket
- Cleaning supplies solely for the rental
- - Repairs directly due to guest damage
- - Replacement directly due to guest damage or theft
- - Utilities only during guest rentals ( or do I say 49/365 of the total utilities for the year?)
How do I distinguish shared Guest AND homeowner expenses such as:
- - General repairs
- - Homeowners association
- - Legal for the property, not necessarily rental.
- - Cleaning supplies shared for the year
Turbotax 2023 Desktop gives me these categories, and I cannot tell which of them are prorated. Or how to indicate proration within the categories.
- Advertising
- Supply
- Utility
- Maintenance
- Repair
- Management
- Legal
posted
4 weeks ago
last updated
December 05, 2024
2:32 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
When I rented my home only part of the year, how do I show rental-only expenses versus shared year-round expenses in Turbotax Desktop?
Keep clicking through rental expenses until you get to Miscellaneous. Then Itemize items as "Rental-Only" as listed in your question (Rental Expenses 1-6)
For these parts of the walkthrough
- Advertising - Enter the costs for the year and assume NOT pro-rated.
- Utility - Specify utility costs ONLY for the rentals. (I did it both ways and the federal refund did not change. )
For these parts of the walkthrough, enter shared costs for the year, and specify "Rental-Only" costs separately in the Misc expenses at the end.
- Supply -
- Maintenance
- Repair
- Management
- Legal (I am guessing this is annual, not shared. I could be wrong)
I am not 100% confident in my answers and appreciate anyone else's perspective.
4 weeks ago
Still have questions?
Make a post