turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Rental expensed amount is not correct unless I enter the full year expense amount.

Personal Property Jan - Sep 2023 turned rental in Oct 2023. 

 

While entering in Rental expenses the heading states "Fill any rental expenses you had".  When I enter the rental expenses, I noticed its calculating against number of days rented.  By doing this the expensed amount is not correct unless I enter the full 2023 expense amount.  

 

 E.g. -  Utilities expenses for 2023 was $451.  If I enter $451, I get 87 days of this amount which is $107.55 and not correct.  If I enter the full Utilities expenses for 2023 of $1,893.  87 days calculates this to $451 which is the correct actual amount.   

 

1.) Do I enter the full 2023 expense amount for each category since it is multiplying the rental days in use?  

2.) If so, how to prevent categories such as Repairs and Supplies from prorating?  While the unit was in use as a rental I had repairs and supplies.  Why would this be prorated less than the actual amount?  

 

Thank You

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
RobertB4444
Expert Alumni

Rental expensed amount is not correct unless I enter the full year expense amount.

It's going to pro-rate everything except mileage.  Enter the full amounts for the year for everything.  When it comes to repairs and maintenance you may have to mess with the figures a bit to get the correct deduction to read through there.

 

@ddubs82 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies