Jump to content

Basement suite rental


Recommended Posts

We rented out our basement.  Our house is a split level so does not have a full basement.   I calculated the rental space is 20% of our living space.  So what do I enter to answer the question "% of personal use of your rental property"?  80% or 20%?  

Next, when entering the expenses do I then enter the full amount and the program calculates the 20%?   e.g if I paid $2000 property taxes, do I enter $2000 or $500?


Hopefully someone has some experience with this and can help. 


TIA, Bevin B.

Link to comment
Share on other sites

Hello bevinb,

IF applying expenses from all the property to the Rental than enter 80% personal use.  The percentage entered here will be applied globally to reduce all rental expenses accordingly eg. enter $2,000 and UFIle will apply 20% to the Rental = $400.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...