1041 return: Where to enter percentage tenant occupancy?

Forum|Forum|1 year ago
February 26, 2025
2 replies
26 views

PTO's 1041 software doesn't have input screen for "Percentage of tenant occupancy if not 100%".

Also, input screen is not available for indirect expenses, even when indicating vacation rental. The trust's beneficiary is living rent free in 80% of the condo, while 20% rented out, to help out with CA property taxes. I called Intuit Tech support, but they say they don't support this.

Also, only 20% of building should be depreciated. Workarounds tips are most appreciated. Do we need to list only 20% of assets and 20% of expenses?

This topic has been closed for replies.

Best answer by sjrcpa

I would enter only the 20% rental expenses.

sjrcpaAnswer

Level 15

I would enter only the 20% rental expenses.

The more I know the more I don’t know.

K

KFCPAAuthor

Level 3

Thank you @sjrcpa :

Still having trouble with the depreciation schedule. Should I list 2 lines for condo building asset.

One at 80% non-depreciable. Then the other building 20% building portion depreciable?

Okay, listed 2 lines, with personal use 80% of building coded to 99. Thanks!

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