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Level 3
February 24, 2022
Question

Schedule E Owner Occupied Rental

  • February 24, 2022
  • 1 reply
  • 9 views

On the Schedule E in ProSeries, there is a box to enter an Owner-Occupied Rental's percentage of rental use.  When I use this option, the program properly reduces the expense to the percentage entered, but it does not limit the overall deductible loss to zero as it should since this is an owner occupied rental.  Is this a glitch?

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1 reply

sjrcpa
Level 15
February 24, 2022

How are you defining owner occupied?

Duplex where owner lives in one side?

Vacation home property subject to 280A?

Something else?

The more I know the more I don’t know.
cbarnesAuthor
Level 3
February 24, 2022

Owner resides in a single-family residence and rents out a portion of the home to another tenant.  It is not a duplex.