gutsygal Posted March 31 Report Posted March 31 This is my first time doing my return with rental property income and I can't figure out what I've done wrong to result in such a high return. Here are my questions: - When adding rental expense amounts (of those already listed), I'm listing the total amount I spent, not the pro-rated amounts. Then I've added the % of business use (10% approx) of each expense under 'If less than 100% of an expense above applies to the business, enter the applicable percentage'. Is this right? Or should I be calculating the pro-rated amount myself? I don't know what the - What is the 'Percentage of personal use of your rental property' % used for if I've already provided the % of business use on the second page? This one is 90% approx for me. What else could I have done wrong on the rental property income pages? Any ideas? Quote
Geo123 Posted April 1 Report Posted April 1 Hello gutsygal, Percentage of personal use of your rental property' % < = = =TO prorate the total expenses to the Rental. The percentage entered here will be applied globally to reduce all rental expenses accordingly and obtain the deductible amount. 'If less than 100% of an expense above applies to the business, enter the applicable percentage'. <= = DO not use unless require additional proration >>example >> Quote
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