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Purchased a rental property last year (2018)….how do we account for this and the expenses, etc.. In TT?....do I just pull up a form?....if so...how do I do this?
We purchased this rental last year....It was my mother's house and we purchased it from the estate. prior to it being rented we spent over $25K on rehab because it had many issues that needed to be resolved prior to renting it out. I was told that Turbo Tax was the best for rental properties and so, though I have used HR Block the last couple of years I can back to turbo tax to see if that is the case.....I used to swear by Turbo Tax.....SO....how do I document my rental property expenses in Turbo Tax?....is it done like a business?
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June 3, 2019
5:47 PM