Tax Year Prior to 2020: Where to enter rental expenses?

Forum|Forum|6 years ago
March 7, 2020
5 replies
0 views

I'm using TT Premier. I have a rental home in Hawaii. I can't find anywhere in TT to enter the expenses related to the property. This is weird, cuz I've done it in years past but now it's not coming up in the navigation section. I can go straight to Schedule E and enter my costs there, but I'd rather not do data entry directly in the tax forms.

The only thing it asks is rent collected. Where do I navigate to in order to enter like Hawaii excise tax on the property, management costs, repairs, etc? Thanks

AnnetteB6

To go directly to the section of the tax return to enter information about rental income and expenses, use these steps:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “rental income and expenses” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to rental income and expenses”
Click on the blue “Jump to rental income and expenses” link and enter your information

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

When I type in rental income and expenses into search, only other questions come up.

THERE IS NO "jump to link".

I am about ready to dump this software.

Irene2805

To report your rental income and expenses in TurboTax, please follow these steps:

TurboTax CD/Download

Click on Business > Continue > I'll choose what I work on [In Premier: Federal taxes > Wages & Income]
In the Rental Properties and Royalties section click on the Start/Update box.
On the Income from Rentals or Royalty Property You Own screen, click Yes.
If you have already started adding information about your rental, you will come to the Rental and Royalty Summary screen. Click on the Edit box next to the property.
If you haven't yet entered rental/royalty information, continue through the screens, entering the requested information.
You will come to the screen, Review Your [property address] Rental Summary.
Click on Start/Update in the Rental Income section. Continue through the screens to enter the income.
When you have finished entering the income, you will be brought back to the Review Your [property address] Rental Summary so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.

TurboTax Online

On the Wages & Income screen, scroll to the Rentals, Royalties, and Farm section. [In TurboTax Self-Employed: Income & Expenses > Rentals, Royalties, and Farm.]
Click the Start/Revisit box next to Rental Properties and Royalties (Sch E)
If you have already started adding information about your rental, you will come to Your 2020 rentals and Royalties Summary screen. Click on the Edit box next to the property.
If you haven't yet entered rental/royalty information, continue through the screens, entering the requested information.
You will come to the screen, Here's Your [property address] Rental Property Info.
You can click the Add income box to add income or the Add expenses or Asset to include your rental expenses.
Continue through the screens to enter the information.
When you have finished entering the income, you will be brought back to the Here's Your [property address] Rental Property Info so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.

@cookie

@patgreaux

Carl11_2

Employee

In the CD/Desktop version of Premier, it's under the Personal Income tab. Under that tab scroll down to "Business Items" and under that is a selection for "Rental & Royalty Income (SCH E)". Elect to start/update that and just work it through.

patgreaux

I'm exactly in the same situation with Turbo tax home and business. I used to be able to enter the rental expenses but can't get to this section anymore. What's the hell is going on here?? Been using turbotax for many years and getting fed up with this. PLease help

VictorW9

Go to the search box and type schedule E. Click "jump to schedule E" and follow the instructions to enter information on your rental activities.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have the same problem. Terrible sofware.

Taxman808

You need to make sure you set up a profile for each property you own. You should have two property profiles; the property where you are residing and your rental property in Hawaii. If you're living in Hawaii, make sure you receive the property tax exemption for owning and living at that property. For your rental property, make sure you set up a business profile, because you are renting your property for profit. Do not enter your rental income in the business income section, enter it in the rental income and expenses section. That's where you can enter all your expenses, ex. property tax, insurance, repairs, management fees, utilities, etc. You should see where to input your Hawaii GE tax information, like your GE license number, when you go through your Hawaii state tax refund. Good luck!