Investors & Landlords Tax Forum Q&A

How do I show step up in basis on commercial rental property? CPA showed me where to enter information on Form 4562, but I cannot seem to force the entries in Turbo Tax.

by on Latest post on by

16 Replies 13020 Views

16 Replies

13020 Views

I have Vacation Home Loss Limitations on Depreciation for a rental property. When the property sells, will I need to pay Recapture on the Loss Limitations?

by on Latest post on by

16 Replies 9336 Views

16 Replies

9336 Views

Where do I put rental expenses for HOA? Under "Cleaning & Maintenance" (Line 7) or "Other" (Line 19)

by on Latest post on by

16 Replies 21418 Views

16 Replies

21418 Views

TT needs an entry for the holding Period for SPDR GOLD SHARES ETF. The term says “undetermined” on my 1099-B. Entering “No Entry” gets rejected by TT. What should I do?

by on Latest post on by

11 Replies 10077 Views

11 Replies

10077 Views

Do I file an MO state return for MO rental income if i am a nonresident of MO?

by on Latest post on by

3 Replies 5183 Views

3 Replies

5183 Views

When amending multiple consecutive years to account for rental home depreciation, do I leave the recommended amt. in TT "Confirming Prior Depreciation" or do I change it?

by on Latest post on by

7 Replies 5182 Views

7 Replies

5182 Views

How to handle depreciation carryover when you sell Rental property?

by on Latest post on by

9 Replies 13113 Views

9 Replies

13113 Views

Do I put expenses from fixing up rental home,vacant 6 of 7 months on sch E as rental expense or cost of sale?

by on Latest post on by

2 Replies 4357 Views

2 Replies

4357 Views

My father and I co-own a rental property together. It is a condominium that we rent out. How should we divvy up the rental income and tax/ interest deductions?

by on Latest post on by

8 Replies 36088 Views

8 Replies

36088 Views

Rental property selling expenses

by on Latest post on by

4 Replies 13910 Views

4 Replies

13910 Views

How/where do I deduct $6,800 for new windows in rental apartment?

by on Latest post on by

8 Replies 9060 Views

8 Replies

9060 Views

Rental Property Conversion to LLC

by on Latest post on by

9 Replies 6734 Views

9 Replies

6734 Views

Form 8824 allows me to link to a related Schedule E. Which one do I choose: relinquished or replacement?

by on Latest post on by

5 Replies 3060 Views

5 Replies

3060 Views

General business credit carry forward or carry back. TurboTax won't let me carry back excess business (solar Investment) credits from 2018 to 2017.

by on Latest post on by

3 Replies 2402 Views

3 Replies

2402 Views

Second Rental house

by on Latest post on by

1 Reply 821 Views

1 Reply

821 Views

commercial real estate

by on Latest post on by

1 Reply 825 Views

1 Reply

825 Views

1st yr diesel mechanic. Spent $10,000 on tools + $6,000 on toolbox. Can I write it all off? Or must I depreciate the toolbox? Does type of credit effect year claimed?

by on Latest post on by

2 Replies 2054 Views

2 Replies

2054 Views

I moved to Oregon and have rental income in California. How do i avoid double state taxation?

by on Latest post on by

1 Reply 1270 Views

1 Reply

1270 Views

California Capital Loss Carryover Categories Unclear Why Split Between "Regular Tax" and "AMT" when my Fed Capital Loss Carryover is Just one number.

by on Latest post on by

3 Replies 5974 Views

3 Replies

5974 Views

Should the program allow rental property losses this year when it hasn’t in the past and the income level hasn’t changed?

by on Latest post on by

1 Reply 1383 Views

1 Reply

1383 Views

How do I file schedule E in TurboTax for vacation rental. When I entered box 3 'other income' fr 1099-misc in rental income section, it said can't report income here.

by on Latest post on by

2 Replies 1616 Views

2 Replies

1616 Views

Rental property repairs or improvements? Replace failed water heater & rebuild rotted exterior stairs.

by on Latest post on by

1 Reply 4758 Views

1 Reply

4758 Views

I have a first year rental home and my gross income was thirty thousand. But my bills to upgrade totaled seventy thousand. Is this amt ok to deduct on my taxes?

by on Latest post on by

6 Replies 2348 Views

6 Replies

2348 Views

Schedule C or Schedule E for rental properties run as a business.

by on Latest post on by

1 Reply 3261 Views

1 Reply

3261 Views

I renovated a home I leased to turn it into a vacation rental. How can I expense the renovation?

by on Latest post on by

1 Reply 1648 Views

1 Reply

1648 Views

Do I need to do Section 179 for depreciation recapture? What date should I use for disposition of rental property when I had personal use before listing for sale?

by on Latest post on by

2 Replies 1556 Views

2 Replies

1556 Views

Do I have to enter rental property depreciation when I sold it? I had not entered it before? Do I have to enter "sold rental property" and "sale property"? Or just one

by on Latest post on by

1 Reply 1267 Views

1 Reply

1267 Views

International travel expenses as deduction against rent from international property

by on Latest post on by

1 Reply 1968 Views

1 Reply

1968 Views

Do we file C or E? We have vacation rental, which is rented part time. We have EIN since we tax the rentals. When receiving the EIN, said to file a 1065 last tax year.

by on Latest post on by

1 Reply 1877 Views

1 Reply

1877 Views

I rent a yoga studio then charge the teachers rent to use the studio. Do I report expenses on Schedule C? Where do I report income for that?

by on Latest post on by

1 Reply 994 Views

1 Reply

994 Views

I received coal royalties as nominee & got a 1099Misc from the lessor for 100%. I sent 1099misc forms to the other owners. How do I report both the gross & net amounts?

by on Latest post on by

1 Reply 1337 Views

1 Reply

1337 Views

Do I include income earned in NJ as a non-resident after selling rental property or only up to the time of the sale?

by on Latest post on by

1 Reply 1075 Views

1 Reply

1075 Views

Which is the best tax option for rental properties? Should I file as a business if I have a tax number?

by on Latest post on by

1 Reply 917 Views

1 Reply

917 Views

Can we take a capital gains exclusion?

by on Latest post on by

2 Replies 1532 Views

2 Replies

1532 Views

How many forms do I need to file when I sold rental property 2016?

by on Latest post on by

1 Reply 1069 Views

1 Reply

1069 Views

Split Mortgage interest on 1098 due to rental property conversion, do I check the box "the interest amount is different from what on my 1098"

by on Latest post on by

19 Replies 10044 Views

19 Replies

10044 Views

I was a silent partner in a rental property so I have no cost basis to write off my capital gains when property sold

by on Latest post on by

6 Replies 3831 Views

6 Replies

3831 Views

Where in tax return to write off a bad investment in a company start-up whose stock has no value as company out of business?? How to enter details for loss carryforward?

by on Latest post on by

1 Reply 3445 Views

1 Reply

3445 Views

Bought mobile home as second home in 2014 (4 mom), sold in 2016. Second home profits taxable but if I tried to rent it then rental property with more write-offs. Do-able?

by on Latest post on by

1 Reply 1107 Views

1 Reply

1107 Views

We demolished a multi-unit apartment building in 2016. The "non-casualty disposition loss" is directly expensable. How do we enter this in TurboTax Home & Business?

by on Latest post on by

3 Replies 2027 Views

3 Replies

2027 Views

I'm trying to correctly allocate the mortgage interest on Schedule E for my rental property investment. If I borrowed $50,000 and the balance on my primary was $200,000.

by on Latest post on by

1 Reply 1763 Views

1 Reply

1763 Views

If I rent out my personal vehicle on Turo and it is only used as a rental vehicle can I claim all actual cost including depreciation?

by on Latest post on by

2 Replies 1871 Views

2 Replies

1871 Views

Do I report capital gains from sale of oil & gas royalties?

by on Latest post on by

1 Reply 2383 Views

1 Reply

2383 Views

Im a barber. when i enter my income do i include the booth rent i pay also, and then enter the expense later or do i put what i made after i paid booth rent as my income?

by on Latest post on by

2 Replies 3189 Views

2 Replies

3189 Views

Our rental LLC has a $41K loss. $25K is allowed due to active participation. Is there a limit on how much of the $16K loss carry forward I can use to offset 2017 income?

by on Latest post on by

1 Reply 1366 Views

1 Reply

1366 Views

I rented rooms in the apartment I rent from a landlord half the year on AirBnB & half to roommates for much less money. Do I include rent from roommates on Schedule E?

by on Latest post on by

1 Reply 1569 Views

1 Reply

1569 Views

Rental section. There is a place to list your property's assets. Do I list them from the time I owned it or only what assets were purchased during the rental period?

by on Latest post on by

2 Replies 2379 Views

2 Replies

2379 Views

Is a rental real estate loss the same as a Net Operating Loss?

by on Latest post on by

1 Reply 2590 Views

1 Reply

2590 Views

Enter 1099B in turbotax

by on Latest post on by

2 Replies 2486 Views

2 Replies

2486 Views

If i paid money to take a online training for stock trading is it deductible?

by on Latest post on by

1 Reply 1706 Views

1 Reply

1706 Views

Can I deduct the cost of points I have paid for a mortgage for a rental property? Turbo Tax seems to only allow deducting it if I have refinanced my mortgage?

by on Latest post on by

1 Reply 1098 Views

1 Reply

1098 Views

Short Term rental business. Do I file a schedule E or C?

by on Latest post on by

1 Reply 2556 Views

1 Reply

2556 Views

Does the Home and Business program include rental property?

by on Latest post on by

1 Reply 2168 Views

1 Reply

2168 Views

Rental property capital improvements in same year as sale

by on Latest post on by

1 Reply 2635 Views

1 Reply

2635 Views

If I sell stock, rebuy it and sell it once again in the same year, am I charged twice the capital gains tax?

by on Latest post on by

1 Reply 1811 Views

1 Reply

1811 Views

Capital gain loss carryover offsetting $22k stock gains. 1040 line 43, <15% tax bracket, cap. gain rate is 0%. Any way of NOT using loss carryover? Other income SS $19K.

by on Latest post on by

3 Replies 2152 Views

3 Replies

2152 Views

I disposed of a K-1 partnership and received a 1099-B. Turbotax is asking about this 1099B and the K-1 separately. Why is TT automatically populating Form 8949 line 10?

by on Latest post on by

9 Replies 8635 Views

9 Replies

8635 Views

Depreciation of rental property that i also live in

by on Latest post on by

3 Replies 3932 Views

3 Replies

3932 Views

We had a rental property in 2013 which had a loss of $3,980 on it. We converted it back to personal property. When can I take this loss?

by on Latest post on by

3 Replies 1492 Views

3 Replies

1492 Views

After transferring a rental property into an LLC (single member) via a Quit-Claim deed, is it reported in the "Rental Properties" section or as an LLC "business asset"?

by on Latest post on by

2 Replies 2101 Views

2 Replies

2101 Views

How do I alocate investiment property that used to be in the schedule E. Its a rental property now paid off, and how to continue the depreciation of it?

by on Latest post on by

3 Replies 1574 Views

3 Replies

1574 Views

I rent part of my home, and have a home office. Should I enter my property tax in Rental Expense, Home Office Expense, or Personal Home Deductions?

by on Latest post on by

3 Replies 3070 Views

3 Replies

3070 Views

I sold a rental prop that was a personal home and later a rental, does "Asset Sales Price (Business Portion Only)" equal 100% of my Sales Price or the % of yrs as rental?

by on Latest post on by

1 Reply 1163 Views

1 Reply

1163 Views

I manage a multi-member LLC. We owned a property and rental house. We sold the house and some of the land this year. How do I report my portion of the sale on my 1040?

by on Latest post on by

3 Replies 1895 Views

3 Replies

1895 Views

My 1099misc shows 7513 in box 2 for royalties but below it states of information only box 2 royalty less deducts 5050.90 which is reportable income?

by on Latest post on by

1 Reply 1461 Views

1 Reply

1461 Views

Can we claim my carpenter/husband as a real estate professional if he managed our rental property as his only full time job - even if we lost money on the rental?

by on Latest post on by

3 Replies 1243 Views

3 Replies

1243 Views

We recently leased a new storefront and are building out the store on our own with some help from contractors. Supplies, etc. are adding up - how do I account for this?

by on Latest post on by

1 Reply 1135 Views

1 Reply

1135 Views

Where do I put the costs to remodel and repair of a rental property paid to market and sell it? I'd like to offset the gain on sale by the costs to sell.

by on Latest post on by

3 Replies 2799 Views

3 Replies

2799 Views

Can I report income from renting out my home for 18 days on my Schedule C?

by on Latest post on by

1 Reply 968 Views

1 Reply

968 Views

Carry-over depreciation is not showing on current return

by on Latest post on by

3 Replies 2265 Views

3 Replies

2265 Views

Can I deduct the cost of car rental and public transportation to travel to speaking engagements without an overnight stay? If so, where do I list it?

by on Latest post on by

1 Reply 1125 Views

1 Reply

1125 Views

After divorce we split the rental property.Base depreciation changed to50% However, my now co-owner transfer his share to me.What will be the basis for depreciation now?

by on Latest post on by

4 Replies 2341 Views

4 Replies

2341 Views

Stock portfolio jointly owned married couple,spouse dies, how decide which stocks “belonged” To dead for basis step up at death? If not how to step up the basis halfway?

by on Latest post on by

1 Reply 1476 Views

1 Reply

1476 Views

Is there a maximum amount that a landlord can deduct as repairs to their rental property?

by on Latest post on by

1 Reply 3454 Views

1 Reply

3454 Views

My 12 year old child has his own investment account and was issued a 1099-B for sales proceeds from CD with $0 gain (covered short-sale)Does he have to file a tax return?

by on Latest post on by

1 Reply 1011 Views

1 Reply

1011 Views

What is the cost basis of rental property in my primary residence?

by on Latest post on by

11 Replies 4184 Views

11 Replies

4184 Views

Using Easy Stepsnin Turbo Tax Home and Business how do I get to schedule E to report foreign rent income? Where can I report sale of foreign rental property?

by on Latest post on by

7 Replies 2510 Views

7 Replies

2510 Views

I own and lease a delivery truck to a business. I have claimed the rent with the 1099 I received. Can I and where do i depreciate the vehicle?

by on Latest post on by

1 Reply 940 Views

1 Reply

940 Views

RSU Vesting : Tax Implications

by on Latest post on by

1 Reply 2887 Views

1 Reply

2887 Views

I have a rental property and when I put in expense against the rents I actually pay more taxes even thought the profit is less. Is this correct?

by on Latest post on by

1 Reply 822 Views

1 Reply

822 Views

Schedule C - Airbnb rental space goes in Home Office deduction or where?

by on Latest post on by

1 Reply 1351 Views

1 Reply

1351 Views

Stocks held longer than 5 years

by on Latest post on by

1 Reply 1655 Views

1 Reply

1655 Views

I rent my car on Turo.com. Last year I rented it 14 times and it was driven 7794 miles while rented. Are those miles part of the 0.54 cent per mile vehicle deduction?

by on Latest post on by

2 Replies 2059 Views

2 Replies

2059 Views

Can rental income that is supposed to be received in 2016, but not received until 2017 be reported in 2016 or does it have to be reported as 2017 income

by on Latest post on by

1 Reply 868 Views

1 Reply

868 Views

How many years I can carry the passive loss carryover on the same rental property?

by on Latest post on by

3 Replies 1503 Views

3 Replies

1503 Views

Do you have a TurboTax Online account?

Topics with Label: TurboTax Home & Biz Mac