If you are renting the property for less than fair market value, you need to report the rent income as "other income" in TurboTax as follows:
1. Go to the "Federal" section of TurboTax
2. Click on "Income and Expenses"
3. Find "Less Common Income" and choose the last entry "Miscellaneous Income"
4. On the next screen, "Miscellaneous Income" choose the last entry "Other Reportable Income"
5. Enter a description for your entry (Rent), and enter the rent received
You can deduct the property tax on the house in the "Deductions and Credits" section of TurboTax, but you cannot deduct the mortgage interest, since you have three houses. You can enter other expenses of the rental as miscellaneous itemized deductions, but they will not be deductible on your federal tax return in 2019.
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