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Investors & landlords
I am in the business part of turbo tax, filling out the schedule e section.
Under the screen "Was this property rented at all in 2020?"
If I check this box:
"I did not rent, nor attempt to rent, at all in 2020"
It says that I should delete this rental property. This leaves me no way to enter expenses.
We spent three weeks there getting the property ready to rent, but we did not attempt to rent it out.
If I say we rented it "0" days, and that we had "0" personal days in it, (but do not check the "did not rent nor attempt to rent' box), it will let me proceed.
Would this be the way to go? We really do have a fair amount of expenses we had in preparing the property that we'd like to (and I believe fairly) 'capture' against income.
Thanks
Todd
‎February 16, 2021
7:47 AM