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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
On line
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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
In TurboTax Online, include only the rental expense portion, do not include any personal portion of these expenses.
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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
Yes, but WHERE do I enter the personal portions? That is what I can't find. A regular T776 has a Part 4, line 9949 where one enters such expenses. Where is the equivalent on Turbo Tax Self Employed on-line?
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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
There is no place to enter the personal portion in TurboTax Online, you just enter the rental amount, which is the only portion that you can claim as an expense. In TurboTax CD/Download, it asks for Total amount & personal % similar to the T776 form, but then it just uses the personal % to calculate the rental amount, which is the amount that gets used.
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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
Thanks for your time and responses.
Sorry, I am bit confused. I rent my primary residence for 6 weeks on Airbnb in the summer, for which I am entitled to write off a percentage (days for rent/365) of things like my interest on my mortgage, property taxes, cable, internet, etc...to the tune of $43,000 (my allowable percent being $4300). I am understanding correctly that turbo tax does not allow me to enter those deductions anywhere, and as a result I am simply to pay more tax?
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How can I indicate my total expenses, personal portion, and rental portion on the T776 form?
You are allowed to enter the deductions. But in TurboTax Online, you would only enter the allowable amount.
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