ThomasM125
Expert Alumni

Get your taxes done using TurboTax

Correct, you can't deduct mortgage interest or property taxes against rental income during a period that the property was not rented. In this case, the full amount of rental income received is taxable and it should best be reported as rental income on a schedule E. There is an option to report rent from not-for-profit rental property as other income, so that is another less-optimal option for you.

 

You report other income in TurboTax as follows:

 

1. From the Federal menu in TurboTax find Wages and Income 

2. Find Less Common Income

3. Choose Miscellaneous Income, 1099-A, 1099-C

4. Choose Other Reportable Income

5. Enter a description of the income and the amount received

 

 

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