I am following the trubo tax example to report the income for my second home.
I lived there more than 10% of the time or more than 14 days. But in the example below it says : "You'll be taken to a screen that asks if you have any income from rentals or royalties. Select Yes" this never happened so I am not sure how to report the income.
Example: Dee has a second home that’s rented out part of the year. Last year, the home was rented for a total of 90 days.
Since 10% of 90 is 9 days, Dee would have needed to live in the home for more than 14 days to be able to claim the mortgage interest deduction. Otherwise, the home would be considered a rental property.
Here's how to get to your Schedule E:
• TurboTax Online/Mobile: Go to Schedule E.
• TurboTax Desktop: Search for Schedule E and then select Jump to schedule E.
You'll be taken to a screen that asks if you have any income from rentals or royalties. Select Yes, even if you didn't have any income from your rental property last year. This will let you claim your mortgage interest as an expense.
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You should be able to enter the rental. A full or corrupted cache can cause problems in TurboTax, sometimes you need to clear your cache (that is, remove these temporary files).
Online version:
Desktop version:
Thank you for the response; however, that did not resolve the problem. I am still not being prompted for the income and expense information for my second home.
Where should I be seeing this prompt for the rental income and expenses for my second home that I also use. Is it while I enter the 1098 information for it, or elsewhere.
I wonder what program you are using. You should be able to go to income and locate rental property and royalties. I wonder if you need to upgrade. If you are using the online version, it is only is the premium version that handles Sch E for rentals. See How do I upgrade to a different TurboTax Online product?
We are using the Online Premium version.
I am able to access schedule E, because I have other full rental properties.
My specific question is how I add my second home and I indicate that is at the same time partially rented. (airbnb vacation home). I have lived there more than 14 days.
I am entering the 1098 form as a second home already and no prompts about income generation. If I am not getting the prompts how I do I manually.
You select Add another Rental or Royalty on your Rental and Royalty Summary Screen. Search for rentals and use the jump to link. Answer Yes, then None of the above, and you will see your rental summary screen. From there, click on Add another Rental or Royalty.
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