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Investors & landlords
I followed your instructions. There is no "Review your rental property info" or "Rental Type and Usage" section.
Where [property name] is the name of my rental.
What type of rental is [property name]?
Land
Unused land rented out to others. Check
I hit continue.
Tell us about your situation this year:
Sold or disposed of property, no.
Converted home to rental or rental to home: no.
Rented part of your home. No.
I hit continue.
Was [property name] rented every single day in 2020? Yes.
Was it always rented at a fair price similar to other properties in your area? Yes, it always was.
I hit continue.
Are you an active partipant in [property name]? Yes
I hit continue.
Did you make any of these payments for [property name]?
Paid a contractor $600 or more to do work for me: No
Made payments that required me to send a 1099 form: No, I didn't make these payments
I hit continue.
Do any of these uncommon situations apply to [property name]?
Select any that applied in 2020.
We were not the only owners of this rental. No
Our property is on an Indian reservation or disaster area. No
None of these apply
I hit continue.
Then I get to this page.
Since you owned 29% of [property name], would you like us to automatically divide your expenses?
You should only report 29% of your expenses. Would you like us to do the math for you? Learn more
Turbo Tax will not let me edit this. I own all 100% of my property, and not 29%.