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Yes, TurboTax should allocate your utilities, if you enter 100% of the expenses when you walk through and enter the days rented and such.
I am in a similar situation but 90% of my yearly utility bills occur in the few months when renters are there during the summer months. Simply splitting the expense across personal/rented doesn't seem right. Is there a way to itemize utility expenses for rented days vs personal? One example is the electric bill which can be as high as $600 in the hot summer months.(rental time) In the months we visit it is about $150/month.
Thanks.
I know this is an old post but I'm updating it in case some else finds it.
It appears that you must allocate vacation rentals that you use by % days rented / % days used. You are not allowed to do otherwise. Seems odd so you should do your own research on draw your own conclusions but it is supported by tax code section 280A(e) and Chapter 5 of IRS Pub 527. See this other discussion https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/schedule-e-vacation-p...
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