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Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"
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June 4, 2019
12:50 PM
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Investors & landlords
Yes you can deduct homeowner's insurance on your rental property as an expense.
June 4, 2019
12:50 PM
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Investors & landlords
Were are the property insurance premiums entered, is there a form? if so do the forms differ for residence and rental?
February 11, 2020
9:49 AM
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Investors & landlords
For the rental, property insurance is entered on Schedule E.
On your personal residence property insurance is not deductible.
To get to Schedule E in TurboTax:
Open or continue you return in TurboTax
Select Wages and Income
Next to Rental Properties and Royalties select Start or Update
Select Expenses insurance is listed with Common Expenses
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February 11, 2020
10:10 AM