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February 15, 2021
Question

Where should I put expenses paid on rental property

  • February 15, 2021
  • 1 reply
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where do I declare expenses I paid on my rental property

1 reply

GloriaL
February 15, 2021

To enter your rental income and expenses:

  1. Open your tax return
  2. In the Search box, type “rental expense and select the Jump to rental expenses link at the top of the search results.
  3. Answer Yes to the question “Did you have any income from rental or royalties?”
  4. On the question, “What are you here to report?” Select Rental Property and then Continue.
  5. Continue to answer the on-screen instructions as you proceed through the rental section.
    • The program will ask you to enter general information about your rental (like description, address, and ownership percentage).
    • Eventually, you'll come to the Rental Summary screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.