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Investors & landlords
@Carl @Your clarifications, detailed explanations, references, and advice were just great, to the point, and complete. I have now completed the section which was confusing.
Of note, I included cleaning and painting as maintenance routine rental expenses because it was incurred during the rental period.
The comment that TurboTax needing to correct instructions in the “enter property tax values” section was not referring to the terminology of land, buildings, structures, improvement value, ... (many thanks for your clarification). It referred to the instructions that improvements made after purchase should be added in the “improvement value” which would have actually made the software miscalculate the 30/70 land/improvement value percentages. I spent over an hour on the phone with customer service yesterday after spending hours on previous days trying to find answers online and few people were just as confused as me and there were inconsistent /unclear answers in the community, hence the reason I posted my question. I hope they have corrected subsequent versions and can alert those purchasing previous year versions. But I greatly appreciate people like you available for the clarification. 🙏 Best regards