With rental property located out-of-state, make sure you
first set up that state properly in Personal Info. That way, when you do
your state taxes, we'll be ready to go.
Now let's enter that rental:
- Go to Search
- Type "Rentals" and press enter
- Then click the "Jump to rentals" link in the search result
- Answer Yes to the question "Did you have any rental or royalty income and expenses?"
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.
NOTE: When filing a
nonresident state return to report income from an out-of-state rental
property, be sure to complete your nonresident state return before you
prepare your resident state return when you get to the State Taxes
section.
