Not-for-profit Rental Expenses

Forum|Forum|7 years ago
June 3, 2019
2 replies
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Where are Not-for-profit rental expenses entered so they appear on Schedule A's Other Itemized Deductions?

When entering them into "Other Deductions & Credits / Other Deductible Expenses", the entry doesn't appear on the "Sched A Other Itemized Deductions".

TurboTax Premier Windows

A

Anonymous_

Employee

"Not-for-profit Rental Expenses"

You can no longer claim any miscellaneous itemized deductions. Miscellaneous itemized deductions are those deductions that would have been subject to the 2%-of-adjusted-gross-income limitation. You can still claim certain expenses as itemized deductions on Schedule A (Form 1040).

See https://www.irs.gov/publications/p535#en_US_2018_publink1000208647

R

rustyoneAuthor

Employee

How are expenses entered into Turbo Tax to offset not-for-profit rental income?

G

gjoanne8

I read that expenses are allowable up to the income. Are mortgage interest and taxes included in “expenses? Where do these expenses go? I have the income on Line 21. Thanks.