Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 11 years ago on . Most recent reply presented by

User Stats

17
Posts
0
Votes
Mike Rodrigues
  • Homeowner
  • Davie, FL
0
Votes |
17
Posts

What am I doing wrong?

Mike Rodrigues
  • Homeowner
  • Davie, FL
Posted

Ok,

Last year I did my taxes with H&R Block. I own my house, but I rent out two rooms inside. I have done the math with the square footage, and I rent 41% of the home out. When I did my taxes last year with the H&R Block gentleman, we established that I am renting 41% and then we took 41% of every expense that we could claim and entered it into the system.

For example I paid something like $4k in interest, but on the schedule E it only states about $1,900.

When I went to go do my taxes on my own with their software. I was asked what percentage I rented the home, I entered 41% then I entered in all my expenses in full. I was told I was getting back more than double what I got back last year, when not much has changed other than my taxes going up a little and same with my homeowners insurance. Last year I remodeled a bathroom for $16k, so that isn't on my taxes this year, do I need to take all my expenses and deduct the 41% from them then enter or should the software automatically be doing it? Did the H&R Block guy screw me over last year?

Thanks in advance!

Loading replies...