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16362: Schedule E - Business Use Percentage Calculation


1040 Individual Data Entry

How is the Business Use Percentage calculated on a Schedule E Rental that was not used the entire year and had Personal Use days?

 

Per IRS Publication 527 - Personal Use of Dwelling Unit (Including Vacation Homes), the business use percentage is calculated using the following worksheet.


To calculate the business use percentage, you divide the total number of days the unit was actually rented out, by the total number of days that it was rented out and used for personal use.

The calculated amount of the business use percentage flows to the Wks Sch E Personal (WKS_E in Drake15 and prior) in View Mode.



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