g-k-
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Thank you, TurboTaxJulieR. The basement is used by the tenant and myself for storage. Would the sq. footage of the basement count half-half for rental usage and...
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Thanks Coleen. Do I need to split the utility expenses (electricity, water) 60/40, which I did with property value, mortgage interest and real estate taxes, or ...
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Thank you Colleen. Should I also add the closing costs to the basis, i.e. 735 purchase price + remodeling + closing costs = basis?
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Where do I enter the cost of improvements like a new wood floor in a rental unit?
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I have yet to enter the expenses. Do I need to enter the mortgage interest and RE tax expense also with a 40/60 split (i.e. if I paid 10K in mortgage interest, ...
Activity Feed for g-k-
- Posted How do I enter an owner-occupied duplex in TT? I bought the building in 2018 and live in one unit while renting out the other. on Investors & landlords. June 3, 2019 1:59 PM
- Posted Thank you, TurboTaxJulieR. The basement is used by the te... on Investors & landlords. June 3, 2019 1:15 PM
- Posted Does patio space count when allocating square footage between rental unit and owner-occupied unit of a duplex? on Investors & landlords. June 3, 2019 1:15 PM
- Posted Thanks Coleen. Do I need to split the utility expenses (e... on Deductions & credits. June 3, 2019 12:42 PM
- Posted Thank you Colleen. Should I also add the closing costs to... on Deductions & credits. June 3, 2019 12:42 PM
- Posted Where do I enter the cost of improvements like a new wood... on Deductions & credits. June 3, 2019 12:42 PM
- Posted I have yet to enter the expenses. Do I need to enter the... on Deductions & credits. June 3, 2019 12:42 PM
- Posted Sorry, is this the depreciation amount for the first year... on Deductions & credits. June 3, 2019 12:42 PM
- Posted Purchased on June 1st, 2018. Available for rent on August... on Deductions & credits. June 3, 2019 12:42 PM
- Posted Thank you Coleen. In the screen that you sent, I checked... on Deductions & credits. June 3, 2019 12:42 PM
- Posted How to set up an Owner Occupied Duplex Purchase on Deductions & credits. June 3, 2019 12:42 PM