Form 1041 estate
The home is a 2 family home. During the estate the rental unit was rented but the unit that was owner occupied remain vacant.
Turbo tax asked two questions.
1. rental assets to depreciate and it lists examples like a building owned by the estate. Do I need to depreciate the home? Even when my mom was alive we never did this. Just reported income and deducted applicable expenses since It was an owner occupied two family. During estate we continued to collect rent on one unit and I’ve appropriately deducted 50% of applicable expenses like taxes, utilities etc.
2. it asks about # of rental property usage days. I simply calculated # of days from when mom
died until we sold the home.
but then it asks about personal use?? Do I put the same # of days since it was an owner occupied unit even though it was vacant due to death or or do I keep it at zero?
as simple as it all is, it is also very confusing. 🤣
