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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Schedule E Owner Occupied Rental
Schedule E Owner Occupied Rental
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cbarnes
Level 3
02-24-2022
10:40 AM
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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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sjrcpa
Level 15
02-24-2022
12:17 PM
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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.
cbarnes
Level 3
02-24-2022
12:28 PM
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Owner resides in a single-family residence and rents out a portion of the home to another tenant. It is not a duplex.
