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Angie, Tax Preparer
Category: Tax
Satisfied Customers: 226
Experience:  Bookkeeping, Profit and Loss, Balance SheetsAll types of US Taxes, Tennessee taxes, Personal, business, payroll, sales tax etc.
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I own a home that we rented from January 2012 thru March 2014. We move

Customer Question

I own a home that we rented from January 2012 thru March 2014. We moved back into the hope in April 2014. I am trying to calculate my 2014 Schedue E for Rental Expenses. While this may qualify as a Vacation home due to the dates, I am also reading that if the home has been rented for 12 consecutive months prior, then I am able to take expenses.
I am not sure why my tax software is denying me xertain expenses i.e. Mortgage INsurance and Depreciation, yet allowing me "Other Expenses" on line 19. Can you give me some help here.
Submitted: 2 years ago.
Category: Tax
Expert:  ShawnA replied 2 years ago.
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. Retired CPA
what tax software are you using?
Customer: replied 2 years ago.
I am using Proseries. I am a CPA and was hoping to talk to another CPA with Rental Experience.
Can you get me to someone like that.
Expert:  ShawnA replied 2 years ago.
I'll opt pit as I am not familiar with that software.
Customer: replied 2 years ago.
That's fine. Can you see that I am not billed.
Expert:  PDtax replied 2 years ago.
Welcome to the site. I'm PDtax, and can assist you today.
Please confirm you still want assistance.
Expert:  PDtax replied 2 years ago.
I see you looked in, and did not confirm that you wanted assistance.
I will opt out, and advise customer service.
Expert:  Angie replied 2 years ago.
I use Proseries. If you still need assistance let me know. (FYI) Generally when your deductions are limited for this reason on the Sched E, then they automatically carry over to the Sched A.. ie... 50% of Mortgage interest appears on the Sched A since the other 50% is on the E .... if this isn't the resolution, please let me know and we can work together to resolve it.