Investors & Landlords Tax Forum Q&A

Where can I find the total depreciation I have taken on the rental property

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Can I take rental property assets out of service on the tax return in the asset section of TT in order to stop depreciation? .

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Are investment advisory fees deductible on form 8960 in calculating net investment income for the 3.8% investment income tax?

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Are regular capital gains entered on California state taxes under "Regulated Investment Company (IRC) Capital Gains Earned (in federal income)"?

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Do I need to file the AR State tax for the state where my rental home is located?

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No royalty income for rental property on schedule E. How do I remove "zero" from line 4 to proceed with filing tax return?

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How do I record a sale of rental property that was "rent to own"?

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Depreciation of rental property two owners 50%

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Rental property; spent $12,000 on a landscaping project can I expense this or do I have to depreciate it? Can I do both or one or the other?

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How to COMPLETELY report rental Like Kind Exchange. Form 8824 is understood but how are SOLD property assets treated.

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For a rental property with personal use days which of the two options below is the correct choice for the Business use percentage used for the depreciation calculation?

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Where do i enter my venture capital investment tax credit for Indiana

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For rental property how is vinyl flooring categorized for asset depreciation, real estate property or rental property appliances, carpet, furnishings?

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Sale of rental property - Do we include depreciation on appliances as well as the building?

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Air conditioner for rental property is now deductible under cat 179. If there are losses on these properties because of it, does it make sense to only do a partial 179?

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Where do I enter earned interest on my escrow account for a rental property mortgage?

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I don't want to use my capital loss carryover this year, how do I do this?

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Is interest on US treasuries tax exempt

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Am I responsible for issuing a 1099 for the fees I paid to the Property Manager of my rental property, if they sent me a 1099-MISC with the gross rental income reported?

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How to enter passive rental loss carryover from prior years when selling home in TurboTax Premier.

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Sale of home after multiple periods or rental and main residence

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Taxes on the sale of rental property, do I file one 1040-ES for the quarter I received the proceeds of the sale?

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I rent out 3 room in my primary residents and earn a rental income. Do i file schedule E only for my property and rental income or do i file schedule A and E together

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I am owner financing a property, do I only have to claim the interest? What about the principle? Do I have to enter anything in the Rental income?

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Forex gains and losses?

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We stopped trying to rent a residence to prepare it to sell. Is the cost to paint it an increase in basis or an investment expense?

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If my rental is less than Fair Market Value, what do I do?

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Need a Sch C for royalties?

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What is the principal business code for rental property?

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Do I need to do a tax return for out of state rental property?

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How can I change the cost basis entered incorrectly for a rental property sold? I know the correct value, but cannot find a way to change what is there.

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Rental property, new heat pump. What is "TYPE OF ASSET" for this new equipment? Is it "J - Qualified Rental Improvements"?

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What is the limitations on rental house losses based on income, filing jointly.

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Tax implication of fair rental days vs personal use days?

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How do I complete Schedule E for the room I rented out in my home?

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Do I have to file a non-resident tax return in Arizona if a partnership K-1 listed rental income from Arizona

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Rental COOP mortgage interest and property tax expenses deduction.

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How do I enter a change in cost basis and depreciation for a rental residence when one spouse dies (in community property state)?

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If I sold a rental property but used as personal residence for 2 years, what do I need to report?

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Should major appliances purchased prior to conversion to rental be recorded in the I-Residential Rental cost (27.5 yrs) or as F asset (5 years)? Mixed advice on forum.

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How to download dividends and capital gains from several brokerage accounts

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Primary home cash out refinanced in 2018. Converted to rental later in 2018. No refinance after rental conversion. Can i deduct all interest paid as expense?

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How do I transfer rental property from Schedule E to Form 1065

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Can a full time dependent student claim the MI homestead property tax credit on off-campus housing rental?

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Confused with the "Enter Escrow Fees" for my rental property. Can someone help link the items on that page with exact HUD-1 line number instead of block number? Thanks.

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How do I treat rental property repairs before placing it into service?

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How do i report expenses associated with a rental property under renovation

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A grant of restricted units from a previous employer vested and paid from a state where I am no longer a resident - I was at the time of the grant. Where do I owe taxes?

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Inherited one half jointly held rental property from my wife who died. How to you calculate the depreciation recapture? What IRS pub has the examples?

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Sale of Rental (business) Property - What lines from the HUD1 to use?

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How do I enter a sale of ISO stock of a private company (not traded on any exchange) where the buyer withheld escrow amounts?

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How do I expense the remaining amortization of loan fees (points) on a rental property (Schedule E)?

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Do I classify both a central air conditioner and furnace as a rental asset with a depreciation life of 27 1/2 years and add them to properties' basis?

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Depreciation of a central AC/furnace

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How to file a capital loss carryover in previous years not filed?

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Separating business and rental on 1065 K-1?

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We rent out two homes. Would income from these rentals be considered "qualified business income" ?

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Use HELOC from my primary house to buy a rental property. Shall I deduct the HELOC interest as primary home mortgage interest or as expense for the rental property?

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Can I convert a rental to a second home??

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For out-of-state rental property sales, in which state return is capital gains taken, the state where the property exists or the state of residence?

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How do I calculate the depletion allowance on Oil royalties earned in 2018 as a result of mineral rights that I own?

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Stock broker fees

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Can 2 owners split the loss on sale of rental property?

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How to report installment sale of stock

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Capital gains showing up in non-resident state

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Do we need to file an income tax return in florida if we own rental real estate in florida but live in colorado?

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Airbnb deductions. When I enter actual expenses to a airbnb room/bath I rent out it only credits a percentage. Exp: toilet paper. How do I get credit for actual cost

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How to enter 1099B tax-exempt Bond?

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Sale of rental property

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How should I claim stock wash sale loss disallowed amount back in following year?

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Have only rental income and no royalty income but turbo tax will not let me enter zero and indicates an error on Sch E. and will not let me file.

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TPR De Minimis Safe Harbor for AC and Furnace

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I received a 1099 MISC for rental of a timeshare in Hawaii. Do I have to file a state return for Hawaii?

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I rent out 1 week of the 2 weeks i own a timeshare do i report the income? And if I report it, do I deduct the maintenance for that week?

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Are long term capital gains taxable in michigan?

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How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017

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I did not claim depreciation on my rental home since it was converted from personal use several years ago, how do I do an amend return in Turbo Tax?

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Sold rental property (which was prior personal residence) - unsure how to answer whether business use percentage varied over the years it was owned.

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Can I deduct new furnace from rental income if it was a month before I rented the house?

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How do I establish a cost basis for a rental property? I claimed a refinance deduction in 2014. Do I use information from 2014 or current information?

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Using de minimis Safe Harbor for a renovation

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Can I take the interest expense from a home equity loan against my primary residence and divide it amongst 4 Schedule E rental properties I own?

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Added a garage to a rental, how do I deduct expenses? When I try to "add an asset" its as if I'm adding ANOTHER property, but this is on an EXISTING property.

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I got this error on my check: "Income from rental real estate and royalties must be reported as separate properties?" How do I fix it?

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In the QBI section of rentals, how do you change opting for combining businesses when that question doesn't come up anymore?

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For a rental property kitchen modernization should kitchen cabinets and built-in appliances be depreciated at the same rate?

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When I sell a rental property are any of the real estate closing fees tax deductible?

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What worksheet or form in TT do I use to allocate the income and expenses from a rental property in a non-resident state to such non-resident state?

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1031 exchange of rental properties. How do I enter the mortgage paid off on the sell side?

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Can I deduct my rent for space i a Mobile Home Park? If so, where do I enter it on Turbo tax?

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Can rent income and royalty income for the same property be reported on one Schedule E?

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How do i report the sale of stock options which I excercised in previous year and paid AMT on?

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When I converted my primary residence to a rental property, my cost basis for the home will be the fair market value at time of conversion?

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Why is my PA state form Schedule D not properly transferring cost basis, proceeds, and disallowed wash sale data from federal form 8949?

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Passive activity loss from rental properties in AZ

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Depreciation is question's topic, pls. To reroof a rental it cost $1,500 in materials, and $2,000 in labor. What should be depreciated? $1,500? $2,000? Or $3,500, pls?

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How does the $2500 limit on De Minimis Safe Harbor Elections for rental property assets apply if I own less than 100% of the property?

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Do I have to pay capital gains tax on the sale of a rent house on both my federal taxes and my state income taxes?

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If I forgot to expense my depreciation from my rental property last year, can I add it to this years return, or do I have to do a tax amendment for 2016?

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My stock vested and was immediately sold. I used sell-to-cover to pay taxes at vest. My W2 reports all stock sold as income. How do I show I sold stock to cover taxes?

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If I am a full time resident in Idaho, but own a rental property in Montana, do I need to file a MT state tax form also, or does my mortgage and rental income go on Fed?

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I get a 1099-Misc from my Property Manager for my rental unit, do I enter it when it asks other income or enter it for the question rental property?

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How to report the sale of rental property that was converted from a primary residence?

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What do I need to mail in to IRS for 1099B

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Turbo Tax did not capture owner-occupied partial rental property's depreciation rom Sep 2013 to Dec 2015.

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5 Replies 3404 Views

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What do I do with remaining unamortized 2014 refinance closing costs on my rental property after refinancing 2nd time in 2016?

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Rental property- fair rental days calculation

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I received a 1099-MISC for executing a mineral rights lease agreement (oil & gas). Should I report this as a "rent from a rental property" or as a "royalty" payment?

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Annualized Installment Method (Regular): Turbotax Interview Questions

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Nonresident rental loss

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Out of state tax form for rental

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Utilities rental property

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Rental property - is an insurance claim payment for repairs subtracted from repair expenses? Where should it entered on the return?

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Can I claim foreign tax paid on capital gains sale of stock, using Turbo Tax Premier? If not, what can I do?

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How do I report a rental (owned by several partners) converted to an LLc this year?

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As a non-resident of CA we have a rental there that yielded $3,500. Do I have to file?

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Rental property lost to fire. I took insurance payout and razed the building. I still own the land. How do I report and reclaim depreciation? I do not plan to rebuild..

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Where do I enter money from the sale (not lease) of mineral rights?

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Short term gain/loss issue. How do I enter various in date acquired and sold if I have multiple trades from broker? trying not to enter 50 trades just totals from broker

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We rented our second home in 2017 but did not rent it at all in 2018. Turbotax has attached a Schedule E for it this year. How do I delete the Schedule E for 2018?

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I'm confused by personal use days AFTER converting a rental to my main residence.

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NQSO sale is not reported on W-2. How do I report it correctly in TurboTax Premier?

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How do I download a 1099DIV from TD Ameritrade Institutional

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ESPP cost basis calculation by TurboTax seems incorrect

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13 Replies 7540 Views

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Unallowed passive losses that not carried over

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How to I keep track of passive income loss for a property we no longer rent?

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Sold my personal house, deal fell through. Kept earnest money of $5000. Is that counted as income? Moved my belongings which cost just under $10000. Any write-off?

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Form 1116 rental expenses entry question

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Do I file a Hawaii State income tax return for a rental property? I am not a resident of Hawaii but I have a rental property there. I pay general excise tax.

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Sold a rental house in 2016 originally purchased in 1979. Does depreciation recapture start from May 6, 1997?

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Can I deduct investment expense on my California 2018 taxes

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Does Turbotax Premier allocate and divide the rental expenses between personal use and rental use for renting out part of my home for part of the year?

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Do you need to depreciate new ceilings fans or blinds on rental properties?

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Will I receive a Schedule K-1 for a MLP stock which I owned for less than 6 months (non-covered security which basis is not reported to the IRS) and had (1) distribution?

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Can a surviving spouse in Nebraska do step-up basis on rental properties?

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I sold my car that is used 40% for business (rental property) and purchased a new one in 2018. How do I enter this?

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DSPP common stock reinvestment where do I put it on the tax form

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I have an amount shown in box 12 for Specified private activity bond interest dividends. Where do I enter them?

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Can I enter Box 20 code N of my K-1 anywhere else in TurboTax, such as Deductions & Credits - Investment Interest Expense or Investment Expenses ?

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Using Turbo Tax premier, how do I enter a 1031 exchange of 1 rental property for 2 new properties?

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What method and life is used to depreciate a commercial mower ($13,000) I purchased to service rental properties

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Why does the more expenses I include in the questions for rental property drove UP the Federal Tax Due amount in TurboTax Premier?

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Single family home rental had fence demolished by Hurricane Florence. Where do I claim the insurance payout? Can I claim the entire amount for replacement in this year?

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How to handle improvement when selling a rental property.

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7 Replies 5303 Views

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How to adjust cost basis of a rental property when selling it under 'Sale of Property/Depreciation' section?

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9 Replies 12257 Views

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How do I report capital gains on non-dividend distribution? The 1099 given me will not be correct and I have no other forms.

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7 Replies 8981 Views

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I've inherited rental property that was being depreciated. How do I handle past depreciation (the building and the building's assets that were being depreciated)?

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9 Replies 59807 Views

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Tax Year Prior to 2020: Can i deduct the cost of turbotax for a rental property

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Do you have a TurboTax Online account?

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