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 12035 Views

16 Replies

12035 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 8348 Views

16 Replies

8348 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 20411 Views

16 Replies

20411 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 9369 Views

11 Replies

9369 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 4640 Views

3 Replies

4640 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 4669 Views

7 Replies

4669 Views

How to handle depreciation carryover when you sell Rental property?

by on Latest post on by

9 Replies 12055 Views

9 Replies

12055 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 4135 Views

2 Replies

4135 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 33424 Views

8 Replies

33424 Views

Rental property selling expenses

by on Latest post on by

4 Replies 13483 Views

4 Replies

13483 Views

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

by on Latest post on by

8 Replies 8248 Views

8 Replies

8248 Views

Rental Property Conversion to LLC

by on Latest post on by

9 Replies 6221 Views

9 Replies

6221 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 2764 Views

5 Replies

2764 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 2139 Views

3 Replies

2139 Views

Second Rental house

by on Latest post on by

1 Reply 695 Views

1 Reply

695 Views

commercial real estate

by on Latest post on by

1 Reply 725 Views

1 Reply

725 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 1774 Views

2 Replies

1774 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 1126 Views

1 Reply

1126 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 5765 Views

3 Replies

5765 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 1254 Views

1 Reply

1254 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 1419 Views

2 Replies

1419 Views

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

by on Latest post on by

1 Reply 4485 Views

1 Reply

4485 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 1979 Views

6 Replies

1979 Views

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

by on Latest post on by

1 Reply 2920 Views

1 Reply

2920 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 1533 Views

1 Reply

1533 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 1403 Views

2 Replies

1403 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 1121 Views

1 Reply

1121 Views

International travel expenses as deduction against rent from international property

by on Latest post on by

1 Reply 1819 Views

1 Reply

1819 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 1709 Views

1 Reply

1709 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 862 Views

1 Reply

862 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 1194 Views

1 Reply

1194 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 926 Views

1 Reply

926 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 802 Views

1 Reply

802 Views

Can we take a capital gains exclusion?

by on Latest post on by

2 Replies 1293 Views

2 Replies

1293 Views

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

by on Latest post on by

1 Reply 925 Views

1 Reply

925 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 9448 Views

19 Replies

9448 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 3364 Views

6 Replies

3364 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 3250 Views

1 Reply

3250 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 962 Views

1 Reply

962 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 1729 Views

3 Replies

1729 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 1560 Views

1 Reply

1560 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 1627 Views

2 Replies

1627 Views

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

by on Latest post on by

1 Reply 2183 Views

1 Reply

2183 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 2686 Views

2 Replies

2686 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 1197 Views

1 Reply

1197 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 1403 Views

1 Reply

1403 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 1182 Views

2 Replies

1182 Views

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

by on Latest post on by

1 Reply 2291 Views

1 Reply

2291 Views

Enter 1099B in turbotax

by on Latest post on by

2 Replies 2193 Views

2 Replies

2193 Views

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

by on Latest post on by

1 Reply 1291 Views

1 Reply

1291 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 943 Views

1 Reply

943 Views

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

by on Latest post on by

1 Reply 2293 Views

1 Reply

2293 Views

Does the Home and Business program include rental property?

by on Latest post on by

1 Reply 1973 Views

1 Reply

1973 Views

Rental property capital improvements in same year as sale

by on Latest post on by

1 Reply 2450 Views

1 Reply

2450 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 1549 Views

1 Reply

1549 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 1868 Views

3 Replies

1868 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 8102 Views

9 Replies

8102 Views

Depreciation of rental property that i also live in

by on Latest post on by

3 Replies 3547 Views

3 Replies

3547 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 1224 Views

3 Replies

1224 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 1900 Views

2 Replies

1900 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 1343 Views

3 Replies

1343 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 2783 Views

3 Replies

2783 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 1007 Views

1 Reply

1007 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 1635 Views

3 Replies

1635 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 1326 Views

1 Reply

1326 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 1094 Views

3 Replies

1094 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 1017 Views

1 Reply

1017 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 2512 Views

3 Replies

2512 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 857 Views

1 Reply

857 Views

Carry-over depreciation is not showing on current return

by on Latest post on by

3 Replies 2083 Views

3 Replies

2083 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 985 Views

1 Reply

985 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 1996 Views

4 Replies

1996 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 1273 Views

1 Reply

1273 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 3168 Views

1 Reply

3168 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 814 Views

1 Reply

814 Views

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

by on Latest post on by

11 Replies 3668 Views

11 Replies

3668 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 2050 Views

7 Replies

2050 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 815 Views

1 Reply

815 Views

RSU Vesting : Tax Implications

by on Latest post on by

1 Reply 2480 Views

1 Reply

2480 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 725 Views

1 Reply

725 Views

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

by on Latest post on by

1 Reply 1227 Views

1 Reply

1227 Views

Stocks held longer than 5 years

by on Latest post on by

1 Reply 1506 Views

1 Reply

1506 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 1571 Views

2 Replies

1571 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 768 Views

1 Reply

768 Views

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

by on Latest post on by

3 Replies 1298 Views

3 Replies

1298 Views

Do you have a TurboTax Online account?

Topics with Label: TurboTax Home & Biz Mac