topic Using Turbo Tax Delux, how to allocate the Property Taxes portion of registration fee among 2 rental properties with one vehicle? in Investors & landlords

Using Turbo Tax Delux, how to allocate the Property Taxes portion of registration fee among 2 rental properties with one vehicle?

LLL2010 — Sun, 21 Jul 2019 13:41:21 GMT

I use one vehicle for 2 rental properties:
The total property tax portion of the registration fee for the car is $1200
The total miles for the car is: 4000
Miles for property A is 1000, business percentage:25%
Miles for property B is 1000, business percentage:25%
Under "the car and truck Expenses worksheet":
For property A:
4c Total Miles: 4000
5. Miles for business: 1000
8. Percent for business use: 25%
26. 1000*0.545 = $545
27. Additional Expenses:
d. The property tax portion of the registration fee for the car = $1200
e. less person portion = ($900)
28. Total Expense: $845
For property B, everything is the same as what I did for property A
The allocations for the property tax portion of the registration fee seems all correct!
But when I look at Schedule A,
Sch A (5c) State and Local Personal Property Taxes: Turbo Tax put: $1800
Which is wrong, because Sch A (5c) supposed to be the non-business portion of the personal property taxes we paid on the car, which should be 1200 - 300 - 300 = $600, or half of $1200.

So, I am very confused about how to allocate the expenses on the "Car and Truck expenses worksheet" for the two properties with that use one vehicle.
Your help is greatly appreciated!
--Li

Re: Using Turbo Tax Delux, how to allocate the Property Taxes portion of registration fee among 2 rental properties with one vehicle?

Critter — Sun, 21 Jul 2019 13:48:26 GMT

If you are using the standard mileage rate then skip the actual expenses section all together and the headache will go away.

Re: Using Turbo Tax Delux, how to allocate the Property Taxes portion of registration fee among 2 rental properties with one vehicle?

LLL2010 — Sun, 21 Jul 2019 15:56:16 GMT

No, this headache won't go away, I am using the Standard Mileage option. But the property Tax portion (and car loan interest, and paring, and tolls etc) are added to both the standard mileage and actual Expense method.

It is this 28(e): less personal portion of the property tax mess things up.

I am pretty sure this is a bug in the Turbo Tax Delux.