Can I record a Triplex Rental on 1 Sch E or does it need to be 3 with prorated shared expenses like mortgage interest & property tax?

[TAXOH · Accepted solution]

I would do it as 1.

[CVTS]

Thank you.

[Just-Lisa-Now-]

If it can only be sold as 1 single property, I'd put it all on 1 as well.

[CVTS]

Appreciate the help.

[TaxGuyBill]

I would do it as one UNLESS the taxpayer is considering moving into one of the units and/or having family live in one of the units (who won't pay Fair Rental Price).

[TAXOH]

You're welcome.

[CVTS]

TaxGuyBill good point - thank you.