I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.
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jclark0125
New Member

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

 
7 Replies
Critter
Level 15

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Florida does not levy a state individual income tax. You do not need to file an income tax return with the state.

The Florida return in TurboTax, Form DR-405, is to report tangible personal property used in connection with a Florida-located business or rental real estate and is printed and mailed to your county property appraiser's office by April 1st.

 If you do need to file a DR-405, nothing will print unless assets are transferred or you manually enter assets in the DR-405 worksheet.


jclark0125
New Member

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Bidet, so my rental does not count as tangible personal property?
jclark0125
New Member

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Bidet, so my rental property does not count as tangible personal property?
Critter
Level 15

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Not the house itself but other things in the home ... read the form and instructions :

<a rel="nofollow" target="_blank" href="http://floridarevenue.com/property/Documents/dr405a.pdf">http://floridarevenue.com/property/Document...>

"Is it necessary to file form DR-405 (FL Tangible Tax Return) if I purchased a condo in Florida in 2017."

If you use tangible personal property in connection with your rental (e.g., furnishings), then you may have to establish an account with the county property appraiser and then file a Form DR-405 to report that personal property. Regardless, you might want to contact your county property appraiser for further, definitive, information (see link below).

<a rel="nofollow" target="_blank" href="http://floridarevenue.com/property/Pages/LocalOfficials.aspx">http://floridarevenue.com/property/Pag...>
Carl
Level 15

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

For a FL rental property, it makes absolutely no sense to claim/report furnishings as a rental asset. Yes, you get to depreciate the assets that way. But what you save in depreciation on the federal side, you lose in tangible property taxes that you will pay every single year on the state or local side. So there is no real benefit to doing this. In fact, in this state it is more common for your tangible tax to exceed your depreciation. So you end up paying more in taxes overall. Makes no sense.
Critter
Level 15

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Read the rules to see if you need to file or get an exemption ...  <a rel="nofollow" target="_blank" href="http://floridarevenue.com/property/Pages/Taxpayers_TangiblePersonalProperty.aspx">http://floridareve...>
Carl
Level 15

I filed FL taxes for 2018, because we own a rental property. When I went to print them as instructed a one page document populates with instructions and nothing more.

Florida does not tax personal income and never has. You have absolutely no need to be filing the DR-405 either.

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