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April 17, 2022
Question

How do i enter property tax and insurance on rental property and vacant land

  • April 17, 2022
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Where do I enter property tax and insurance expense on rental property and vacant land

1 reply

April 17, 2022

To enter real estate property taxes for your rental property, follow these instructions.

 

  1. Open or continue your return, if you haven’t already
  2. Locate the Search bar in the upper right of your screen. Search for rentals and select the Jump to link at the top of the search results
  3. Answer Yes to the question Did you have any income from rentals or royalties?
  4. On the next screen, What are you here to report?, select Rentals and Continue
    • If you have more than one rental property to report, no problem—just start with one, and we’ll come back to the other one(s) later
  5. On the following screens, we'll ask you to enter all the info we need about your rental property, including a description of the property, your rental income, any expenses and assets, and other less common situations about your rental
  6. When you reach the Here’s your rental property info screen, double-check the info you entered to make sure everything is accurate and that you haven’t left anything out
  7. Once you’ve entered all your info, you’ll be taken to the Your income screen
    • If you have more rentals to enter, scroll down to Rental Properties and Royalty Income (Sch E) and select Edit/Add next to this line
    • On the Your 2021 rentals and royalties summary screen, select Add another rental or royalty
    • From here, follow these instructions again, starting with Step 3, and repeat until you’ve entered all your rental income

Real estate property taxes on vacant land are entered in your personal return in the deduction section.

 

If you're a homeowner, your property taxes are entered in the Deductions & Credits section:

  1. Sign in and open your return if you're not already in it.
  2. Inside TurboTax, search for property tax and select the Jump to link at the top of your search results.
  3. Answer Yes to the question Did you pay property or real estate taxes in 2021?
  4. Enter your property/real estate taxes on the next screen.
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