trmy
New Member

Used a car for rental properties in 2016 but moved out of area & wasn't able to in 2017. Will move back & begin using it again in 2018. How do I record this for 2017?

We are military and used our vehicle for our rental properties in 2016.  We were moved to the opposite coast for all of 2017 and were not able to use it for the rentals.  We will be moving back this year and will again use it for our rentals in 2018.  How should I record this for 2017?
CathiM
New Member

Investors & landlords

You can just tell TurboTax that you had no Vehicle Expenses in 2017.  Here's how:

In the Rental section, under Rental and Royalty Summary, click on Edit next to your property. You should see the Property Profile, Rental Income, Expenses, Assets/Depreciation and Vehicle Expenses.  You can click Start next to Vehicle Expenses and then answer No to the next screen "Any Vehicle Expenses".  

If you have an problems finding the Rental section follow these steps:

  1. In TurboTax, search for rentals and then click the "Jump to" link in the search result.
  2. Answer Yes to the question Did you have any rental or royalty income and expenses?
  3. Follow the on-screen instructions as you proceed through the rental and royalties section.
  • We'll first ask you to enter general information about your rental (description, address, ownership percentage, etc.)
  • Eventually, you'll come to the Rental Summary screen which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.

You can use it again for 2018, even though didn't in 2017.


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