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taxsaver
Level 2

Renting out RV to produce income

I purchased an RV last year that I rent out as an income producing property (70%) and personally use the rest of the year (30%).  I  set up the RV under "rental properties" and my rental property has an asset called "RV" that is depreciating over 5 years. I noticed that my depreciation expense can only be as much as my income produced for 2019. For example: Revenue is $10,000, calculated depreciation is $17,000 but it only let's me take $10,000 so the profit or loss for this property is always 0. Is this a system flaw or am I entering something incorrect. 

2 Replies
Anonymous
Not applicable

Renting out RV to produce income

your personal use is too high.   therefore deductions are limited to income 

taxsaver
Level 2

Renting out RV to produce income

Your response cannot be correct because if I set up this asset as 100% business use it is still limiting the depreciation expense to the revenue that was generated. Is it a software issue?

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