332276
How do I enter an owner-occupied duplex in TT? I bought the building in 2018 and live in one unit while renting out the other. So I need to set it up in TT such that the rental unit and my unit are defined correctly with the appropriate depreciation going to the rental.
When you set up a new rental property, you enter the purchase price, escrow fees etc. that was paid for the entire building (rental+owner unit). How do you adjust those amounts so that the correct depreciation amount is applied to rental and self-occupied units?
Some guidance will be much appreciated.
Thanks,
You'll need to sign in or create an account to connect with an expert.
It's easy. You will enter your information in the Rental Section. You will encounter the screen in the screen shot below. Check that you rent out a multi unit property. Next indicate that it is a duplex. Your expenses will be adjusted.
It's easy. You will enter your information in the Rental Section. You will encounter the screen in the screen shot below. Check that you rent out a multi unit property. Next indicate that it is a duplex. Your expenses will be adjusted.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
nf60
New Member
mrfkl
Level 3
Jflarabee
Level 2
felicityr
Level 2
Beth_D1
New Member