Investors & Landlords Tax Forum Q&A

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

by on Latest post by

9 Replies 19461 Views

9 Replies

19461 Views

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

by on Latest post by

9 Replies 11320 Views

9 Replies

11320 Views

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

by on Latest post on by

15 Replies 23622 Views

15 Replies

23622 Views

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

by on Latest post on by

15 Replies 7836 Views

15 Replies

7836 Views

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

by on Latest post on by

9 Replies 4224 Views

9 Replies

4224 Views

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

by on Latest post on by

9 Replies 10732 Views

9 Replies

10732 Views

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

by on Latest post on by

8 Replies 10978 Views

8 Replies

10978 Views

Depreciation of rental property two owners 50%

by on Latest post on by

22 Replies 12853 Views

22 Replies

12853 Views

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?

by on Latest post on by

5 Replies 35219 Views

5 Replies

35219 Views

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

by on Latest post on by

15 Replies 15844 Views

15 Replies

15844 Views

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?

by on Latest post on by

4 Replies 3021 Views

4 Replies

3021 Views

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

by on Latest post on by

4 Replies 2385 Views

4 Replies

2385 Views

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

by on Latest post on by

12 Replies 38615 Views

12 Replies

38615 Views

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

by on Latest post on by

30 Replies 24166 Views

30 Replies

24166 Views

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?

by on Latest post on by

8 Replies 13103 Views

8 Replies

13103 Views

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

by on Latest post on by

11 Replies 10217 Views

11 Replies

10217 Views

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

by on Latest post on by

18 Replies 24440 Views

18 Replies

24440 Views

Is interest on US treasuries tax exempt

by on Latest post on by

14 Replies 15591 Views

14 Replies

15591 Views

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?

by on Latest post on by

18 Replies 25208 Views

18 Replies

25208 Views

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

by on Latest post on by

7 Replies 6475 Views

7 Replies

6475 Views

Sale of home after multiple periods or rental and main residence

by on Latest post on by

32 Replies 18806 Views

32 Replies

18806 Views

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

by on Latest post on by

7 Replies 5236 Views

7 Replies

5236 Views

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

by on Latest post on by

17 Replies 14332 Views

17 Replies

14332 Views

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?

by on Latest post on by

8 Replies 13614 Views

8 Replies

13614 Views

Forex gains and losses?

by on Latest post on by

24 Replies 45851 Views

24 Replies

45851 Views

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?

by on Latest post on by

5 Replies 4153 Views

5 Replies

4153 Views

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

by on Latest post on by

3 Replies 14464 Views

3 Replies

14464 Views

Need a Sch C for royalties?

by on Latest post on by

6 Replies 8172 Views

6 Replies

8172 Views

What is the principal business code for rental property?

by on Latest post on by

9 Replies 24643 Views

9 Replies

24643 Views

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

by on Latest post on by

13 Replies 14339 Views

13 Replies

14339 Views

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.

by on Latest post on by

18 Replies 10500 Views

18 Replies

10500 Views

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

by on Latest post on by

3 Replies 9947 Views

3 Replies

9947 Views

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

by on Latest post on by

4 Replies 12624 Views

4 Replies

12624 Views

Tax implication of fair rental days vs personal use days?

by on Latest post on by

2 Replies 4417 Views

2 Replies

4417 Views

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

by on Latest post on by

16 Replies 16636 Views

16 Replies

16636 Views

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

by on Latest post on by

2 Replies 7347 Views

2 Replies

7347 Views

Rental COOP mortgage interest and property tax expenses deduction.

by on Latest post on by

11 Replies 10561 Views

11 Replies

10561 Views

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

by on Latest post on by

2 Replies 6366 Views

2 Replies

6366 Views

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

by on Latest post on by

43 Replies 12148 Views

43 Replies

12148 Views

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.

by on Latest post on by

6 Replies 8376 Views

6 Replies

8376 Views

How to download dividends and capital gains from several brokerage accounts

by on Latest post on by

8 Replies 3570 Views

8 Replies

3570 Views

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?

by on Latest post on by

8 Replies 2878 Views

8 Replies

2878 Views

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

by on Latest post on by

2 Replies 5569 Views

2 Replies

5569 Views

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

by on Latest post on by

7 Replies 9634 Views

7 Replies

9634 Views

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.

by on Latest post on by

3 Replies 4477 Views

3 Replies

4477 Views

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

by on Latest post on by

16 Replies 29352 Views

16 Replies

29352 Views

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

by on Latest post on by

4 Replies 8616 Views

4 Replies

8616 Views

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?

by on Latest post on by

2 Replies 2357 Views

2 Replies

2357 Views

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?

by on Latest post on by

3 Replies 2668 Views

3 Replies

2668 Views

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

by on Latest post on by

3 Replies 2402 Views

3 Replies

2402 Views

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

by on Latest post on by

16 Replies 10211 Views

16 Replies

10211 Views

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

by on Latest post on by

30 Replies 28359 Views

30 Replies

28359 Views

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?

by on Latest post on by

4 Replies 26677 Views

4 Replies

26677 Views

Depreciation of a central AC/furnace

by on Latest post on by

3 Replies 23242 Views

3 Replies

23242 Views

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

by on Latest post on by

9 Replies 23861 Views

9 Replies

23861 Views

Separating business and rental on 1065 K-1?

by on Latest post on by

17 Replies 7706 Views

17 Replies

7706 Views

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

by on Latest post on by

60 Replies 14152 Views

60 Replies

14152 Views

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?

by on Latest post on by

16 Replies 19129 Views

16 Replies

19129 Views

Can I convert a rental to a second home??

by on Latest post on by

11 Replies 23336 Views

11 Replies

23336 Views

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?

by on Latest post on by

8 Replies 9348 Views

8 Replies

9348 Views

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

by on Latest post on by

17 Replies 18743 Views

17 Replies

18743 Views

Stock broker fees

by on Latest post on by

4 Replies 6678 Views

4 Replies

6678 Views

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

by on Latest post on by

4 Replies 3355 Views

4 Replies

3355 Views

How to report installment sale of stock

by on Latest post on by

18 Replies 19438 Views

18 Replies

19438 Views

Capital gains showing up in non-resident state

by on Latest post on by

7 Replies 11148 Views

7 Replies

11148 Views

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

by on Latest post on by

3 Replies 3053 Views

3 Replies

3053 Views

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

by on Latest post on by

8 Replies 3144 Views

8 Replies

3144 Views

How to enter 1099B tax-exempt Bond?

by on Latest post on by

3 Replies 3610 Views

3 Replies

3610 Views

Sale of rental property

by on Latest post on by

20 Replies 8103 Views

20 Replies

8103 Views

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

by on Latest post on by

58 Replies 36957 Views

58 Replies

36957 Views

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.

by on Latest post on by

13 Replies 6849 Views

13 Replies

6849 Views

TPR De Minimis Safe Harbor for AC and Furnace

by on Latest post on by

3 Replies 3734 Views

3 Replies

3734 Views

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

by on Latest post on by

3 Replies 3768 Views

3 Replies

3768 Views

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?

by on Latest post on by

5 Replies 6329 Views

5 Replies

6329 Views

Are long term capital gains taxable in michigan?

by on Latest post on by

3 Replies 4203 Views

3 Replies

4203 Views

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

by on Latest post on by

5 Replies 13249 Views

5 Replies

13249 Views

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?

by on Latest post on by

43 Replies 55065 Views

43 Replies

55065 Views

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

by on Latest post on by

10 Replies 8159 Views

10 Replies

8159 Views

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

by on Latest post on by

2 Replies 9234 Views

2 Replies

9234 Views

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?

by on Latest post on by

39 Replies 14238 Views

39 Replies

14238 Views

Using de minimis Safe Harbor for a renovation

by on Latest post on by

37 Replies 27647 Views

37 Replies

27647 Views

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?

by on Latest post on by

18 Replies 10414 Views

18 Replies

10414 Views

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.

by on Latest post on by

4 Replies 6944 Views

4 Replies

6944 Views

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?

by on Latest post on by

3 Replies 3333 Views

3 Replies

3333 Views

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

by on Latest post on by

12 Replies 6486 Views

12 Replies

6486 Views

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

by on Latest post on by

14 Replies 40134 Views

14 Replies

40134 Views

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

by on Latest post on by

22 Replies 21519 Views

22 Replies

21519 Views

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?

by on Latest post on by

6 Replies 3541 Views

6 Replies

3541 Views

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

by on Latest post on by

3 Replies 2689 Views

3 Replies

2689 Views

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

by on Latest post on by

3 Replies 1658 Views

3 Replies

1658 Views

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

by on Latest post on by

3 Replies 2375 Views

3 Replies

2375 Views

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

by on Latest post on by

4 Replies 1916 Views

4 Replies

1916 Views

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?

by on Latest post on by

13 Replies 8237 Views

13 Replies

8237 Views

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

by on Latest post on by

6 Replies 3980 Views

6 Replies

3980 Views

Passive activity loss from rental properties in AZ

by on Latest post on by

17 Replies 13925 Views

17 Replies

13925 Views

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?

by on Latest post on by

2 Replies 1675 Views

2 Replies

1675 Views

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?

by on Latest post on by

3 Replies 3637 Views

3 Replies

3637 Views

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?

by on Latest post on by

5 Replies 3094 Views

5 Replies

3094 Views

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?

by on Latest post on by

6 Replies 6681 Views

6 Replies

6681 Views

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?

by on Latest post on by

2 Replies 7614 Views

2 Replies

7614 Views

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?

by on Latest post on by

6 Replies 4046 Views

6 Replies

4046 Views

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?

by on Latest post on by

6 Replies 3180 Views

6 Replies

3180 Views

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

by on Latest post on by

7 Replies 5586 Views

7 Replies

5586 Views

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

by on Latest post on by

2 Replies 11553 Views

2 Replies

11553 Views

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

by on Latest post on by

5 Replies 3430 Views

5 Replies

3430 Views

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

by on Latest post on by

5 Replies 3466 Views

5 Replies

3466 Views

Rental property- fair rental days calculation

by on Latest post on by

8 Replies 10573 Views

8 Replies

10573 Views

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?

by on Latest post on by

27 Replies 25021 Views

27 Replies

25021 Views

Annualized Installment Method (Regular): Turbotax Interview Questions

by on Latest post on by

6 Replies 13324 Views

6 Replies

13324 Views

Nonresident rental loss

by on Latest post on by

6 Replies 3590 Views

6 Replies

3590 Views

Out of state tax form for rental

by on Latest post on by

9 Replies 6073 Views

9 Replies

6073 Views

Utilities rental property

by on Latest post on by

5 Replies 5289 Views

5 Replies

5289 Views

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

by on Latest post on by

8 Replies 14051 Views

8 Replies

14051 Views

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

by on Latest post on by

8 Replies 3981 Views

8 Replies

3981 Views

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

by on Latest post on by

14 Replies 5991 Views

14 Replies

5991 Views

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

by on Latest post on by

2 Replies 2411 Views

2 Replies

2411 Views

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..

by on Latest post on by

9 Replies 10868 Views

9 Replies

10868 Views

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

by on Latest post on by

2 Replies 2838 Views

2 Replies

2838 Views

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

by on Latest post on by

2 Replies 3746 Views

2 Replies

3746 Views

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?

by on Latest post on by

4 Replies 3265 Views

4 Replies

3265 Views

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

by on Latest post on by

3 Replies 6132 Views

3 Replies

6132 Views

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

by on Latest post on by

5 Replies 3530 Views

5 Replies

3530 Views

How do I download a 1099DIV from TD Ameritrade Institutional

by on Latest post on by

15 Replies 23068 Views

15 Replies

23068 Views

ESPP cost basis calculation by TurboTax seems incorrect

by on Latest post on by

13 Replies 7595 Views

13 Replies

7595 Views

Unallowed passive losses that not carried over

by on Latest post on by

3 Replies 3481 Views

3 Replies

3481 Views

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

by on Latest post on by

12 Replies 6994 Views

12 Replies

6994 Views

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?

by on Latest post on by

5 Replies 16119 Views

5 Replies

16119 Views

Form 1116 rental expenses entry question

by on Latest post on by

10 Replies 6065 Views

10 Replies

6065 Views

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.

by on Latest post on by

3 Replies 9106 Views

3 Replies

9106 Views

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

by on Latest post on by

5 Replies 6125 Views

5 Replies

6125 Views

Can I deduct investment expense on my California 2018 taxes

by on Latest post on by

9 Replies 8451 Views

9 Replies

8451 Views

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?

by on Latest post on by

3 Replies 3006 Views

3 Replies

3006 Views

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

by on Latest post on by

4 Replies 29270 Views

4 Replies

29270 Views

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?

by on Latest post on by

2 Replies 2394 Views

2 Replies

2394 Views

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

by on Latest post on by

10 Replies 4838 Views

10 Replies

4838 Views

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

by on Latest post on by

7 Replies 2753 Views

7 Replies

2753 Views

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

by on Latest post on by

4 Replies 4772 Views

4 Replies

4772 Views

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

by on Latest post on by

5 Replies 3606 Views

5 Replies

3606 Views

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 ?

by on Latest post on by

3 Replies 18006 Views

3 Replies

18006 Views

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

by on Latest post on by

4 Replies 5520 Views

4 Replies

5520 Views

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

by on Latest post on by

3 Replies 19714 Views

3 Replies

19714 Views

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

by on Latest post on by

3 Replies 2202 Views

3 Replies

2202 Views

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?

by on Latest post on by

4 Replies 1763 Views

4 Replies

1763 Views

How to handle improvement when selling a rental property.

by on Latest post on by

7 Replies 5357 Views

7 Replies

5357 Views

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

by on Latest post on by

9 Replies 12306 Views

9 Replies

12306 Views

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

by on Latest post on by

7 Replies 9056 Views

7 Replies

9056 Views

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)?

by on Latest post on by

9 Replies 60209 Views

9 Replies

60209 Views

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

by on Latest post on by

5 Replies 2303 Views

5 Replies

2303 Views

Do you have a TurboTax Online account?

Topics with Label: TurboTax Premier Windows