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Re Rental Expenses. How do I determine what is personal amounts vs rental amounts of expenses when the suite is in my home?
April 9, 2024
9:33 PM
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Investors and rental owners
For information please see our TurboTax article: The Landlord’s Toolbox: A Guide to Claiming Expenses on Rental Properties
If you’re renting part of your primary residence, claim only the portion of expenses that pertain specifically to the rental unit. For example, if you rent out your basement and pay the water bill for the entire home, you can’t claim the total amount of that bill on your taxes—just the portion that applies to the basement.
Thank you for choosing TurboTax.
April 10, 2024
6:07 AM