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Investors & landlords
To enter your rental:
- Open or continue your return, if you haven’t already.
- Locate the Search bar in the upper right of your screen. Search for rentals and select the Jump to link at the top of the search results.
- Answer Yes to the question Did you have any income from rentals or royalties?
- On the next screen, Let's see if you're a real estate professional, select any options that apply to you.
- On the screen What are you here to report?, select Rental property and Continue.
- If you have more than one rental property to report, no problem—just start with one, and we’ll come back to the other one(s) later.
- On the following screens, we'll ask you to enter all the info we need about your rental property, including a description of the property, your rental income, any expenses and assets, and other less common situations about your rental.
- When you reach the Here’s your rental property info screen, double-check the info you entered to make sure everything is accurate and that you haven’t left anything out.
- Once you’ve entered all your info, you’ll be taken to the Your income and expenses screen.
- If you have more rentals to enter, scroll down to Rental Properties and Royalty Income (Sch E) and select Edit/Add next to this line.
- On the Your 2023 rentals and royalties summary screen, select Add another rental or royalty.
- From here, follow these instructions again, starting with Step 5, and repeat until you’ve entered all your rental income.
Please see this TurboTax FAQ for additional information: How do I handle capital improvements and depreciation for my rental?
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January 17, 2024
7:29 AM