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Posted

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?

Posted

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.

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'If less than 100% of an expense above applies to the business, enter the applicable percentage'. <= = DO not use unless require additional proration

>>example

 

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>>

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