turbotax icon
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 income from mother-in-law unit

Hi ,

I have rental income from mother-in-law unit of my house where I also live in. I have also upgraded mother-in-law suite and put in new floor. How shall I enter income/expense/depreciation information in Turbo-tax (home & business version)?

Thanks in advance,


2 Replies
Expert Alumni

rental income from mother-in-law unit

You have a multi-family home. You will need to prorate expenses between the personal and rental portions. Any improvements you made to the rental portion are not prorated. They belong exclusively to the rental. Depreciation is also just on the business end.

Level 1

rental income from mother-in-law unit

So, if the original house was one unit, and now there are 2 separate living spaces, do I prorate the purchase price, house improvements, purchase expenses, etc?  Also, we have refinanced a couple of times since the original purchase - once to create the MIL unit although that was not this year.  Any suggestions on how to handle these issues?

By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies