Condo renal

Forum|Forum|1 year ago
March 19, 2025
1 reply
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I rent a condo. I own it out right and only have a Personal property tax bill My condo management company who manages it for me, sent me a W9 for the rent. They have collected and paid me. I pay a common area fee. How do I use that expense to lower my tax responsibility?

DavidD66

Hopefully you have been reporting your condo rental income and expenses on your tax return beginning with the date you placed it in service (the date you made it available for rent). If you began renting out your condo in 2024, you need to set the condo up on TurboTax as a rental property. Either way, see this TurboTax Help Article on Rental properties:

Where do I enter income and expenses from a rental property?

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