Investors & Landlords Tax Forum Q&A

I own a couple of rental properties. My property manager deducts her fees before forwarding us our portion.

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Sold a MLP, now have to pay the piper. Are accumulated passive losses in my adjustment of basis, or can I deduct it from the accumulated ordinary gains on final K-1

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Our rental house was destroyed in a fire...is there any deduction for our loss? If so, where do I include this info on our taxes?

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I had mineral rights lease income this year, paid 3 years in advance. i listed the total amount but will zero income next two years cause a problem?

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I am working on a 2017 draft federal tax return. Had a sale of a rental property, but when I put it in, nothing is showing on the amount for taxes owed. Any reason why?

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I have rental property located within city limits. Each property has a monthly city fee that covers trash pickup, storm water, etc... where do I deduct this?

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Building a house for rental income. Should I form LLC?

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How do I calculate my home owners insurance deductible costs (and liability insurance) on my rental home when I switches to new companies mid year.

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Can I deduct the cost ($14k) of replacing a broken retaining wall at my rental property or do I have to depreciate? What's the best timeline if I have to depreciate?

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Fire loss in Nov 2017 on a rental condo. I didn't have insurance. I paid out of my pockets to fix the fire loss: $6000 in 2017, and $8000 in early 2018.

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Out of state rental property

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I have a rental home which I am renting to someone. I do not understand which is more beneficial, renting at a fair market rent or renting it below fair market?

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Can i use a short term loss from Jan 2018 with a short term gain in December 2017? For Crypto Taxes.

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Purchased rental property in 2012. Added new roof 3/2016. Tenant moved out in Apr and I sold property in Jul. Do I add the roof as an asset that depreciates for 4 month than sold for $0.0?

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If I had stocks and the interest income is zero do I still have to report it?

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If I have information in the stocks, mutual funds, bonds, other income section but when I click Done it still says Not Started what should I do?

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Are rental and held-for-sale real property expenses deductible?

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I am filing taxes and i am in depreciation information. I dont know what ti fill out for a rental income from an oil and gas lease

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1. Can I deduct investment advisory fees in 2018?

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I need to delete vehicle information that was accidentally put in with rental property. I can not fine how to delete it from Schedu

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Where should I report the sale of a second home, that I previously rented, but didn't rent at all in 2018? I sold in June so I have taxes to enter for it also?

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Does a Trust, having one residential rental property, need to pay income tax this year?

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I received a small amount of stock as a child which I sold this year. I don't recall the date acquired or know the cost basis of the stock. How do I determine cost basis?

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I HAVE A MOBIL HOME I PURCHASED AS A RENTAL. THERE IS NO 1099MISC. WHERE CAN I REPORT THIS BECAUSE THERE WERE EXPENSES TO GET IT READY AS A RENTAL

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Hello I filled my taxes last year with Turbo Tax. I have a rental property and I am wondering how I can transfer the information, especially depreciation information.

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We just sold stock with LTCG, I want to pay the taxes on it now. Do I have to do a quarterly tax, or how can I do it. I don't want to wait tell april

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I have expenses related only to the rental of my property, but TT keeps reducing the amount. How can I fix that?

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We receive a small royalty each year from an oil property, it is divided by family members, It shows state tax withheld other taxes and a net. How do I enter this info? Thank you

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I have a rental property that I entered the tax & insurance info for and the same info also got entered with my mortgage in a different (not rental property) section. I think it's counted twice wh...

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I rent my home. It has been rented the entire year. Do I only deduct mortage interest in the rental section or do i also deduct it in the home owner section?

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I cannot find the rental property section. i have searched in federal taxes and business

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Where to enter 1099s for rental property

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I NEED TO OMIT FORM 1099B FROM MY RETURN

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Where can I obtain a cumulative summary of the total depreciation I have taken on a rental property to date, not just the current year, but the sum total of depreciation?

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Is the Arkansas short-term capital gain amount the same as the federal short-term capital gain amount?

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I'm being asked to provide my real estate tax and mortgage interest as a rental expense, but I already reported these under itemized deductions. Is this correct?

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Rental Propery Depreciation expense!!

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May we count our mortgage payoff in the closing costs for the sale of our rental property?

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1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

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The "learn more" screen does not open for rental income

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Is it better to sell investments through an estate and have the estate pay any taxes or distribute the investments to the beneficiaries for them to sell?

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We sold a house that has been a rental property for 5-6 of the 16 years we owned it. How do I pay capital gains taxes in turbo tax?

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I have stock but am not sure how to report them in tax return. Please advise

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Do I've to pay tax on foreign rental income? The income is about $2,300

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All my stock sale proceeds are in correctly, but on the overview of my taxes capital gains shows the sum of my proceeds, not the capital gains. How do I correct that?

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Insurance for new roof on rental property $3,000 more than cost to replace. Roof not separate asset, so TT depreciates whole building with gain of $15,800. How to enter?

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I have a property that i claimed rent for last year on schedule e. In 2016 I didnt rent out this property. I have 0 rent but can I still claim expenses such as depreciation expense?

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I was in the 15% bracket in 2016 and thought long term capital gains were not taxed but my 1040 shows the LT gains as income. What am I missing?

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Hoa fees deductible on partial rental

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1099 B Date Acquired and Cost or Other Basis blocks are "unknown"

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I lived in New Mexico from 1January to 1June 2016. Don't I have to pay state income tax for the 6 months I lived in New Mexico?

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I don't live in Arkansas, but I am going to buy rental property there. How much of my income is up for taxing on AR1000NR? Just my AR income or all my income?

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I live on 1/2 of my main property and rent the other 1/2, can I deduct 50% under the mortgage deduction summary

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Is the fair market value for the date home was available to rent (including land) asking for the fair market value if the home was to be sold or rent per month?

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Interest on savings bonds

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I have 1256 contract losses and gains for holdings that were held at the end of the year (12/31/16). How do I match up my broker form with the "Section 1256 Contracts" form in Turbotax?

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How do I calculate "Depreciation expense or depletion" for Schedule E line 18 for Oil & Gas royalties from a 1099-MISC?

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I am rental property owner, we pay the gardener $60/month, one year will be 720 which is over 600. do i need send 1099 to my gardener?

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The screen to check the box that I sold my rental property does not appear. Is there another place where I can record the sale of my rental property?

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I inherited oil rights in 2018 and have oil royalty income. I'm wondering if the oil royalties can be depleted, ie whether I have an "economic interest" per IRS rules?

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How do I get into depreciation of my rental unit?

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I forgot almost 6k on my rental expenses. Will that make a big difference on my tax refund.

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I have a 17,000 long term loss . I have sold a rental property with a 75,000 profit. Can I use this loss to offset some of the gain? where do i show that on my return?

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Where do I enter rental expenses in Deductions and Credits for a rental property that is deemed Not-For-Profit?

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My Expenses for my Rental property are not totaling correctly on the screen

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On the 1099-B, when entering the sale of stock that has one purchase date, but various sale dates all qualifying for Long-Term , do I have list each individual sale?

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Should the Capital Gains (or Losses) Transactions Worksheet be used instead of or in addition to Schedule D, if not how do I eliminate this Worksheet?

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ISO stocks cashed out and escrow payments

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Rental income on final step

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Received money from an insurance claim. TurboTax allows me to depreciate the roof expense on rental property but no area to report payment received from insurance claim.

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How do you list tools needed for a renovation in rental?

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Can a Canadian filing a tax return because of a capital gain claim the Federal standard deduction of $24,000.

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Do I have to enter the sale of my rental several times? For example it asks about the home in 3 sections. Rental Properties, Sale of business property, and sale of home

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I live in Arizona, but sold mineral rights located in Oklahoma. For which state do I report this as a capital gain?

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Are state withholding taxes reported as an expense on royalty income?

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TurboTax calculating mortgage interest & real estate tax deductions incorrectly for my home, because of rooms I rent out (Schedule E)

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I have rental property. I am deducting the car registration fees there. Do I also put the registration in my deductions for my federal tax portion?

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How do you calculate the capital gain from merger transaction for ESPP, ISO or RSU stocks?

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My county was declared a disaster area for Hurricane Matthew in October 2016, does this count for the question "Is my rental property in a Qualified Disaster Area"?

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Need to take time out to get information from investment accounts on computer. How do I save work in progress?

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If I published one book, where it was a one time thing, not an ongoing business, and I received less than $600 in royalties but had $13,000 in expenses, what do I do?

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I had a new hot water heater installed for our vacation home that I rented 60 days last year. Do I depreciate this or expense it? We will probably not rent after this.

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If I sold a rental property , I need to pay taxes? or if I use this money for pay my main house and other rental property still I need to pay taxes .

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Is VRBO (Vacation Rental by Owner) Income considered royalty income?

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How can I enter "unknown" for cost basis on form 1099b?

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Tax Year 2016: I din't deduct my rental property expenses for 2015 on last years return. Can I add these expenses to this years return ? If not what do I do?

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Where do I claim the depreciation on my rental home. I have been claiming 2,062 and was told it was for 26.5 years.

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I Have more than one rental property. Turbo tax took all the info on first one, all went fine, now only option "done with rental property" I have more... what to do?

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Does the state tax withholding on oil royalty income, on form 1099 misc., count as an expense?

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How do I determine Land Value for the purposes of rental home depreciation? My county tax assessment does not break land value out.

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Schedule E doesn't have Repairs, Supplies, Utilities, or Maintenance for column B

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We sold our rental condo on 8/31/16. It was rented until then. Is it therefore considered rented all year? Or do I fill in actual number of days?

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I am entering my 1098 for my 2 family home and i used 1/2 of the mortgage interest and RE taxes towards my rental unity. Do I still input the full 1098 information ?

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Pertaining to my rental. I didn't make income, the rent paid just covers my mortgage. I entered $0 for income, is that correct?

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Mortgage interest on rental income

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Mortgage interest on rental income

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I am a TN state resident with rental income in MD. How can I determine whether this property generated reportable income for a MD non-resident return?

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How do I enter an owner-occupied duplex in TT? I bought the building in 2018 and live in one unit while renting out the other.

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Can I deduct my rental payments if I already have a mortgage at my primary home due to a job change? State of Colorado?

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I have a depreciable asset under 2500 .I am wanting to deduct rather than depreciate .where do i enter it?

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We bought a home 10/31/16 and rented it Nov 1. We did not stay there in 2016. If I enter the full amount of tax & insurance paid in 2016 will TT prorate them or do I it?

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How to file the rental passive income loss which was carried over from 2016? Where is in Federal return and where is in MA return? Thanks,

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I want to take the Section 179 Deduction for an appliance I bought for my rental property, but TurboTax is only giving me the Special Depreciation Allowance option.Help?

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Tax Year Prior to 2020: Nonresident Oregon State Tax Rental Question

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I rented a spare bedroom for one month, did I convert to or from a rental property at any point?

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Hey I have capital loss carry over... how I am going to claim it next year.? Do they will claim automatically or I have to fill some kind of form?

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If I rent out a room in my own home to one tenant for one year on a regular basis, would it be a Qualified Business Income? What would define it as such?

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The town took a portion of my rental property eminent domain. Where do I enter my 1099-S since it is only for a small portion of the property ($8000)?

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We has a rental property in 2017. We rented for less than 15 days but did collect tax on our rentals via VRBO. Where do we enter that info?

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We had a large expense on our farm rental property due to major erosion; the expense is 5x the income. How do we deduct the expense? Take all expense on this year's taxes or over a period of years?

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I have a rental condo, for which i bought a new dishwasher for $430.67. do i list this as a repairs/maintenance expense or under asset/depreciation section?

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Is there anything you can write off on a 25x40 building built for personal use last year?

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I rented out my house last year. I amended my taxes. I had a new heating and cooling system installed. Am I allowed to deduct that expense. I wasn't given that option.

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What causes the sale of restricted stock to show long and short term gains

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I rented out half of my home in 2016. Do I count my property tax deduction as a rental or home?

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I rent room that is 10% of home but Turbotax is not adjusting utilities and expenses, instead applying full cost to rent, unlike last year. How do I get it to adjust?

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For Capital Losses, I had -$13,005 for 2018. But Turbo tax is listing $4285 for Capital Loss used in 2018. I'm married filling jointly. I thought $3000 was the limit.

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Do I have to allocate rental expenses for a vacation home that I use for a part of the year too or does the program do that automatically?

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What is my California capital loss carryover amount that I am suppose to enter in Turbotax ? I have a capital loss carryover of $68,765 on my federal return from 2017

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I have a 1099 misc for book royalties. I'm in premiere and cannot find the correct format.

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Can I (and where) deduct expenses like sheet, towels, and other items that are exclusively for rental portions of my home?

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Our Rental mgmt firm sent us a 1099-MISC for our net income. Isn't that backwards? Shouldn't we have sent THEM a 1099 for their mgmt fees?

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I rent a room in my home. Where should I report my real estate taxes? Should I include any or a portion on my rental expenses page? Right now I feel like the product is counting it twice, which doesnt...

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Do I need to stop depreciation on my currently vacant rental until I find another renter?

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Do I need to subtract the value of the land when I depreciate a rental property improvement? (installed new insulation).

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How to take deduction on loss of rental income

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Is a residential rental property that I rented out on a year long lease a for-profit property?

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I have a rental income and would like to deduct some expenses, such a maintenance and repair, and rental comission. How can I do it in Turbo Tax?

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Sold a house in 2017. no rent collected.Put majority of sale into a annuity. How do I report this?

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How does depreciation recapturing work if I sell a rental property?

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Share holders were credited for the co. sale of foreign rights July of 2018. My 1099-B short term has no "cost" just a gain. How do I get Turbo Tax to accept this gain?

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I had a 1099-MISC with income reported for my rental, but also "Other Income" which was lease end maintenance. I have no idea where this should go?

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Should I declare moving expenses?I live with my parents since they had an apartment, and I helped them purchase a house which is just 5 miles away from the apartment.

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How to enter stock sales sold 10 of 32 shares of stock ; share price 162.26; market value 5192.32; minus unrealized appreciation of 4284.99; cost basis 907.33;

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I bought a new home last year 2016 and moved from my old home in may 2016. I want to rent or sell, but have not been able to do so. Can I claim loss on my 2nd home if not rented or sold for the remain...

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I refinanced the mortgage for a rental property. If I report the refinancing fees as a rental asset cost, do I need to deduct all Lender Credits from the loan costs?

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Where do i enter sale of rental property

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Question - investment gains & losses. I thought last year I just entered in brokerage account #s & it pulled everything. I don't know how to enter gains and losses.

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> However, hang on to your Form 3922, as you'll need it to figure your cost basis when you sell your ESPP shares down the road. < but why? wouldn't 1099-B have cost basis

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I own a house which I rent out for less than the "median" rent listed in Turbo Tax for the area. Can I claim the differance as a loss? How? Where?

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My condo was available for rent for 61 days, actually rented for 34 of those days, and used as personal residence for the other 304 days. What's my % used for business?

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How do i carryback a Capital Loss?

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I have a 1099-INT box 8 Tax Exempt interest $1237.50 & box 13 Bond Premium on tax-exempt bonds $500.21, would I minus $500.21 from $1237.50 & report $737 on 1040 line 2a?

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How do I have turbo draw my stock investment information from my broker?

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Does your W-2 account for employee stocks sold or do I need to do a seperate 1099B form?

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Does patio space count when allocating square footage between rental unit and owner-occupied unit of a duplex?

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I understand now that I should have applied depreciation for my rental properties. I am not sure what that is or how to do it, how do I do that?

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Is it necessary to report Proceeds from Broker and Barter Exchange Transactions included on my 1099 from Wells Fargo Clearing. If so how?

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Does turbo tax provide a way to report sale of oil property and royalties?

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Where do i enter the amount i paid for a insurance claim deductible on a rental property?

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Do you have a TurboTax Online account?

Topics with Label: TurboTax Premier Online