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Investors & landlords
Hello again!
1) Can you please confirm that the "Other" expenses should only include tangible items?
2) If yes, should all labor charges (even under $2500) be added to all the other tangible items (excluding appliances, carpets and furnishings) that cost more than $2500 for the renovation?
3) Would it then be proper in TurboTax to select "Rental Real Estate Property" asset, category "Residential Rental Real Estate", and a description of "2024 Renovation" (for the item asking to "Describe the residential rental real estate"?
Thanks again. I'm getting there with all of your assistance!
‎June 11, 2024
5:47 PM