Yes
, since you rented your home for more than 14 days, you do need to report the income on
Schedule E. You will be able to
deduct a portion of your mortgage interest, property taxes, and insurance as a
rental expense.
Use these steps to get started with Schedule E:
On the top row of the
TurboTax online screen, click on Search (or for CD/downloaded TurboTax
locate the search box in the upper right corner)
This opens a box where you
can type in “schedule e” (be sure to enter exactly as shown here) and
click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will
give you an option to “Jump to schedule e”
- Click on the blue “Jump
to schedule e” link
Click the following link for more guidance about your rental
income and expenses:
https://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Renting-Out-a-Room-on-Airbnb-or-FlipK...
