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gsks
Level 1

1st year rental property

in 2022 i converted 50% of my home into an apartment.  On form 4562  Do I  enter 100% of the Cost and Land or 50% of the Cost and Land ??      If I enter 100% do I enter Business use at 50%.    I have divided my other expenses by 50%.  Any suggestions ??  In my mind, i am thinking I should enter the 50%  that pertains to the apartment only 

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2 Replies

1st year rental property

Do the math yourself and then then enter the figures into the program. TurboTax is not great with respect to your scenario.

gsks
Level 1

1st year rental property

That’s what I thought !  Just needed some reassurance. 

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