Vacation rental property personal use allocation

[nancy2]

Feel free to tell me this is a stupid question, as long as you also answer it.  It must be because I have asked it several different ways and don't get an answer.

I have vacation rental property with personal use.  How do you allocate the depreciation?  The program doesn't seem to do that.  Yes, I enter the rental nights and the personal nights.

Thank you so much.  I very seriously need an answer to this question.

[sjrcpa]

Is this for your partnership question?

Or for the other questions where you didn't specify if partnership or individual?

And stop repeating yourself. Add clarifying language as needed to one of your existing posts.

[shf1957]

I believe you are to manually lower the depreciation amount by the percentage of personal use for that year.  So if the depreciation is 2000 and they used it 50%  manually only depreciate it by 1000.   same for the property taxes, ho insurance etc..  

[Just-Lisa-Now-]

I could have sworn it adjusted the asset entry % of business use when its a vacation rental with personal use.

I only have 2 of these and when I looked at one of them this year, I saw that last years asset list showed the dwelling as 41.37% business use (they rented for less than half the year , snowbirds)...I thought the program did that for me, but maybe I did the math for that, and I just dont remember it

[shf1957]

Best advice I can give you is to see what it was to be at 100 percent.. write it down...then go back and multiply that figure by the percentage of busn use.. and see if the program has altered it to the proper amount.    I've had people that have depreciated their building full time every year then one time they use it personally for an entire year.. so what happens is they loose that full year of depreciation.  it's never left to take the amount they lost in another year.. it's gone.     Hope I helped you.

[TaxGuyBill]

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@Just-Lisa-Now- wrote:

I could have sworn it adjusted the asset entry % of business use when its a vacation rental with personal use.

I only have 2 of these and when I looked at one of them this year, I saw that last years asset list showed the dwelling as 41.37% business use (they rented for less than half the year , snowbirds)...I thought the program did that for me, but maybe I did the math for that, and I just dont remember it

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It does for a 1040, but this is a 1065, which may not do it (I'm not really sure if there should be personal use of a Partnership asset).

[Norman2001]

You don't say how many rental or personal use days. There are triggers at the 14/15 days event.  Pub 527 would probably be helpful to review. 

[nancy2]

No one asked for any clarifying language on the partnership question.  On the other post, when asked, I gave the clarifying answer, which got no response.

Stop answering if you don't have a real answer.

[Just-Lisa-Now-]

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@nancy2 wrote:

No one asked for any clarifying language on the partnership question.  On the other post, when asked, I gave the clarifying answer, which got no response.

Stop answering if you don't have a real answer.

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this is why you shouldnt have more than one thread going about the same situation.  People cant keep track of what info has been given already or not.

[nancy2]

Thanks for no help.  When a question is asked and not answered.  AT ALL.  Nothing, nada......  What do you suggest?  Since you appear to be appointing yourself as the rule maker.

[Just-Lisa-Now-]

Call support, a snotty attitude will get you nowhere in here, were all just other customers like yourself.  Im done.

[nancy2]

Thank you for your response.

[nancy2]

Your snotty attitude applies as well.

I ask a question.  You ask for additional information, which you got.  All given in a friendly manner.  You are the one who brought the snotty attitude and I responded.  

[nancy2]

Thank you for your response.  I have reviewed the publication you suggested.  Thank you again.  

Just FYI, it appears the program does not adjust based on the rental nights/personal nights.  

[nancy2]

Thank you for your response.  It appears the program does not adjust.  

[nancy2]

@TaxGuyBill

I see your point about the partnership issue.  So do you think that personal use should be shown as income to the partner/partners who used the property personally?  And if that were to be done would all expenses (including depreciation) be 100% deductible?  

Thank you for your help.

[sjrcpa]

No and No.

Apparently this is for a partnership return; not that you ever explained that in most of the posts, even when asked..

The 1065 software does not do vacation home allocations. Do your own calculations and then enter the nondeductible amount as a negative expense.

Signed, 

Ms. Snotty

[nancy2]

It was explained in the original post.  Which was bumped up again after getting no response.  So I approached it another way.  At which time I was asked a question and answered it fully..... no response.  

[abctax55]

@nancy2 

"...When a question is asked and not answered.  AT ALL.  Nothing, nada......  What do you suggest?"

Answers are provided free of charge here, by volunteers.  You do get what you pay for. 

Lisa & Susan (edit... and Bill 😉  are both prolific posters on the forum & have helped a multitude of folks over the years.  Attacking them isn't like to garner any help from others 'round here

[nancy2]

@abctax55 

I understand all of that.  None of my questions were "an attack".  Did I react when I was attacked?  Yes, I did.  There is plenty of blame to go around here.  I was simply trying to get some information, which is what this forum has been in the past.  

[nancy2 · Accepted solution]

To follow up, the answer to the depreciation number is that you can change the business use % on the Asset Entry Worksheet.  You have to do it for each asset apparently.  And apparently will have to do it each year.  

In case any one else has this issue.