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Investors & landlords
Yeah I still cannot get it to fill out Part I. TT does not give you a land option on farm land, oil and gas property etc. but not raw land. I just ran into another problem also.....what do I do with expenses between when it was rented and when it was sold (i.e. interest, utililities, property taxes)? I guess some people say these go on your schedule E others say they are not deductible. I had repairs that were a $2300 associated with the closing of the house which is on my settlement statement. In addition I paid the utilities when the renters moved out currently I have these on my schedule E and TT also calculates my depreciation. Is all of this correct to place on my schedule E?
March 12, 2021
2:24 PM