Yes, you should amend that return to include that rental property income and expenses as you may even be able to report a loss.
When you prepare that amendment, you would want to report that on Schedule E, Income or Loss from Rental Real Estate. However, you follow the directions in the TurboTax FAQ below to both enter those rental income/expenses and prepare your amendment.
To Enter Rental Information
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To Prepare Your Amendment for 2016
Ok and what form needs to be filled out? Also when putting a rental property on 2017 do I put it on deductions as well as claim income from the state in which I own the home in?
I also tried to download the program to amend it thru turbo tax and it will not allow me to do it as we're military and live in multiply states.
You would most likely need to amend your Federal and state. The Federal Amendment form is called a 1040-X and will include your Schedule E when you prepare the amendment once you answer the questions in TurboTax. It will also prepare your state amendment as well if necessary.
@tqsinclair Can you post your question in the Support Community and someone will be able to help you solve that problem.
that was me also. I helped my brother with his taxes. Didn't realize he was still signed on. I did download the soft ware and it will not allow me to just do the one state as we are military and live in multiple states and my husband claims a different home state.
You will most likely have to file multiple state returns. You have 2 options, you can either file your Federal now and return to your state later or add the other state returns using the directions in the 2 links below. You may want to review the directions below on how to file a Married Filing Jointly federal return and Married Filing Separately for the states that you do not have income or that your husband does not. In other words, file a MFS return for your husband's home state and a MFS return for your home state.
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The 1040x amend form itself is just two pages. Would I just put the income from the rental property and that's all?