Where do I enter money received for electric power from renters?

Forum|Forum|3 years ago
March 10, 2023
1 reply
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I have rental property. I keep the electrical power in my name and bill each renter monthly for the power they use as this is a multi-family unit and I live in one of the units. Each unit is metered separately but I do not want to have the power off so pipes won't freeze, etc. Anyway, where to I enter the money I received for electric power from my renters? Do I include it in the rental income? Do I put it somewhere else? Thanks in advance for helping me determine what to do on this.

TurboTax Home & Biz Windows

Best answer by Vanessa A

Yes, you would include the electric bill payments your tenants give you, in your rental income. You will then enter the electric bill expense as a utility expense.

Vanessa AAnswer

Yes, you would include the electric bill payments your tenants give you, in your rental income. You will then enter the electric bill expense as a utility expense.

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