For a rental property, How should I set indirect expenses if the rental property was empty for half the year, occupied by my for 20% and renters for 30%.
For a rental property, How should I set indirect expenses if the rental property was empty for half the year, occupied by my for 20% and renters for 30%.
In your situation, using the 'regular' way (not the Tax Court method), the expenses would be 60% deductible as rental expenses (60% of the time the home was used).
In your situation, using the 'regular' way (not the Tax Court method), the expenses would be 60% deductible as rental expenses (60% of the time the home was used).
Thanks. you are correct. I realized that I need to ignore the percent occupied and make sure that was 100% and then make sure the rental days and personal use days were correctly entered and that fixed it.
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