You can claim rental income and expenses on Form T776. It Includes rent collected from tenants as rental income in the current tax year. You can claim tax deductions for any expenses related to your rental property. Common rental property expenses include home insurance, heat, hydro, water, and mortgage insurance.Please Note: You can claim the full amount of expenses if it is for a rental property, but only a percentage if it is for part of your principal residence. To access your Rental Expenses on TurboTax Online, follow the steps below: Sign in to your TurboTax online, click on Find button located on top right corner and search Rental Properties. Rental Properties page will appear, answer all questions accurately and click continue. After putting your rental income, keep pressing continue until it lead you to page T776 Rental Expenses. On this page you are able to input the Rental Expenses. For more information and video walk through, you can refer to our TurboTax link: Claiming Expenses on Rental Properties.Thank you for choosing TurboTax.

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Question

How/where do I input rental property expenses after inputting income?

Forum|Forum|3 years ago
April 11, 2022
1 reply
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simerjb

You can claim rental income and expenses on Form T776. It Includes rent collected from tenants as rental income in the current tax year. You can claim tax deductions for any expenses related to your rental property. Common rental property expenses include home insurance, heat, hydro, water, and mortgage insurance.

Please Note: You can claim the full amount of expenses if it is for a rental property, but only a percentage if it is for part of your principal residence.

To access your Rental Expenses on TurboTax Online, follow the steps below:

Sign in to your TurboTax online, click on Find button located on top right corner and search Rental Properties.
Rental Properties page will appear, answer all questions accurately and click continue. After putting your rental income, keep pressing continue until it lead you to page T776 Rental Expenses.
On this page you are able to input the Rental Expenses.

For more information and video walk through, you can refer to our TurboTax link: Claiming Expenses on Rental Properties.

Thank you for choosing TurboTax.