Enter vacation rental information

Follow these steps to enter vacation rental information.
  1. Select the
    Asset
    tab for the rental property.
  2. Select
    Setup
    , then
    Activity
    .
  3. Select
    Vacation Home Percentage
    .
  4. Enter the vacation home usage information to calculate the allowed depreciation percentage for rental activities. Select
    OK
    .
  5. In the
    Asset
    tab, select
    Add
    to enter a new asset, or
    Modify
    to change an existing asset.
  6. For a new asset, complete the
    Description
    and
    Date in service
    fields.
  7. In the
    Depreciation
    tab, complete the
    Cost/Basis
    and any other depreciation-related fields.
  8. In the
    Vehicle/Listed
    tab, select
    Other business & personal
    from the
    Type of property
    dropdown.
  9. Verify the
    Bus use pct
    field is correct.
  10. In the
    Asset Detail
    window, select
    Tasks
    , then
    Prior Depreciation Comparison
    . Enter the prior-year business use percentages in the
    Asset's business use percentages
    field.

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