I opened up a vacation rental business this year . Using the Home & Business version of Turbo Tax . I am confused as to where enter the rental property income . I added the Business under business income but does the actual income and expenses go in that section or do leave income and expenses blank in that section and enter all of the information in the rental property and royalty income section?
@alopez0105 wrote:
It is an LLC , I own the rental property . I will be purchasing another one this year . It will eventually be a chain of rentals belonging to the LLC
In that event, unless you are a real estate dealer or provide substantial services to your renters (such as meals or daily maid service), your rentals would be reported on Schedule E.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
