topic Where do I deduct equipment expenses used for multiple rentals? in Deductions & credits

Where do I deduct equipment expenses used for multiple rentals?

plato56 — Mon, 03 Jun 2019 20:13:08 GMT

Mower, tractor, weed eater, chainsaw, etc. Where can I claim the fuel, oil, and maintenance costs. The costs that can't be assigned to any one of the rentals.

The only way to handle this is to total the expenses (or...

kerriP — Mon, 03 Jun 2019 20:13:10 GMT

The only way to handle this is to total the expenses (or put them in categories) and divide them equally between the properties.

Then go through each separate rental property, and enter the allocated amounts. This also applies to entering purchases of assets.

Thanks KerriP!

plato56 — Mon, 03 Jun 2019 20:13:11 GMT

Thanks KerriP!