[Luebis]

If only one room of principal residence was rented for the whole year, what it is the tax treatment? how to devide the perosonal use and rental use? I am using Becker 2012, it did not mention this. thanks everyone.

FAR-32, 65, 72, 93 on 7/31/13(CAN'T BELIEVE THAT)
AUD-43, 53, 94 ON 5/31/13
REG-53, 58, REMATHCHED ON 8/20/13 and got 82!!!(Thank God! Thank you! My Parents!)
BEC-75 on 8/26/2012

[Anonymous]

IIRC, it's based on square footage.

[Jennifer241]

You take the square footage of the room being rented out, divide it by the square footage of the entire house.

i.e 300 sq ft room being rented, out of your 1200 sq ft house; 300/1200 = 25%

Then you can deduct 25% of the housing utilities, insurance, and property taxes. Most choose not to depreciate the house. If they do choose, then we can deduct 25% of the annual depreciation amount on the schedule E.

AUD - Jan 9,13 Pass
REG - Aug 30,13 Pass
BEC - Oct 26,13 Pass
FAR - Dec 4,13 Pass

Licensed CPA in the state of Oregon

[Luebis]

you guys are awesome!!! thanks a lot!!!!

FAR-32, 65, 72, 93 on 7/31/13(CAN'T BELIEVE THAT)
AUD-43, 53, 94 ON 5/31/13
REG-53, 58, REMATHCHED ON 8/20/13 and got 82!!!(Thank God! Thank you! My Parents!)
BEC-75 on 8/26/2012

[Author]

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