In running through the questions Turbo Tax asks regarding my rental income and expenses, I don't see anywhere to account for a partial year rental. The condo was rented out from Jan through the end of July and I've prorated the expenses accordingly but what to do about the interest which was accounted for on the 1099 for the entire year?
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In the rental section of TurboTax, under Property Profile, you will find a page that asks Was This Property Rented For All of 2019.
Click on NO and enter the number of days rented and personal. Then go back to the expense section. You can choose to have the program prorate your expenses or you can do it manually. The default is for the program to prorate.
In the rental section of TurboTax, under Property Profile, you will find a page that asks Was This Property Rented For All of 2019.
Click on NO and enter the number of days rented and personal. Then go back to the expense section. You can choose to have the program prorate your expenses or you can do it manually. The default is for the program to prorate.
How do you force it to not prorate expenses, maintenance? I understand it prorating taxes and mortgage interest, But the expenses I entered are for the period of time it was rented and should NOT be prorated across the year
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