bugbash
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Thanks. I was confused by TT's inconsistency in which it will do the math for this, but not the expense section (mortgage interest and property tax).
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Right, so in theory TT shouldn't have included the "Safe Harbor Election for Small Taxpayer" form in my return, should it?I retraced my steps and I think I mist...
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I think I made a mistake when answering TT about my percentage business use. I should have entered 100% instead of 68%, otherwise for in-service date of April '...
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Thanks, but that's the thing though - I didn't answer Yes to this question, yet TT includes Safe Harbor Election form in the final return."Did you buy any items...
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Doesn't Pub 957 say we can only claim expenses incurred after in-service date?Pre-rental expenses.You can deduct your ordinary and necessary expenses for managi...
Activity Feed for bugbash
- Cheered Re: Percentage of business use for house depreciation in rental property conversion for AmyC. February 20, 2023 3:08 PM
- Posted Re: Percentage of business use for house depreciation in rental property conversion on Investors & landlords. February 20, 2023 3:07 PM
- Posted Re: My repair & improvements exceed $10,000, but TurboTax still applies Safe Harbor Election for Small Taxpayer? on Investors & landlords. February 20, 2023 2:44 PM
- Posted Re: Percentage of business use for house depreciation in rental property conversion on Investors & landlords. February 20, 2023 2:31 PM
- Posted Re: My repair & improvements exceed $10,000, but TurboTax still applies Safe Harbor Election for ... on Investors & landlords. February 19, 2023 5:58 PM
- Posted My repair & improvements exceed $10,000, but TurboTax still applies Safe Harbor Election for Small Taxpayer? on Investors & landlords. February 17, 2023 10:43 PM
- Posted Re: Adding hardwood floor refinishing to cost basis? on Investors & landlords. February 17, 2023 2:55 PM
- Posted Adding hardwood floor refinishing to cost basis? on Investors & landlords. February 17, 2023 1:27 PM
- Cheered Re: Percentage of business use for house depreciation in rental property conversion for DaveF1006. February 17, 2023 1:25 PM
- Posted Percentage of business use for house depreciation in rental property conversion on Investors & landlords. February 16, 2023 12:29 AM