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Taxes on rental property abroad
I have a rental property abroad for which I pay property and national income taxes.
I have entered all the relevant information under Business Income and Expenses/ Rental Properties and Royalties, including the property taxes under 'Expenses' but I am not sure whether to also include the national income taxes paid under 'Expenses' or it should rather go elsewhere.
TurboTax reports a loss (as expenses and depreciation are more than the rent itself) and zero deductions, probably because my overall income is above 150k.
Can you please help?
Thanks
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‎February 19, 2023
11:24 AM