Investors & Landlords Tax Forum Q&A

Investors & landlords

All About Rental Real Estate & Vacation Rentals

You’re in great company if you’re thinking about joining the rapidly expanding group of real estate investors. Whether you want the adventure of becoming a full-time landlord or simply looking to make a little extra cash by renting out a room - or yo... read more

I live in the house I rent, and how can I have repair expenses be deducted for the rented parts of my house?

Looking for some tax savvy support for filing my expenses related to renting out parts of my house.Here's the situation. I live in a house and have rented out rooms in my house. I also have an in-law cottage, aka an ADU, in the back of my property. I... read more

amending 2023 Wisconsin state return to correct for Cap Loss NOT carried over

I attempted to amend my Wisconsin 2023 state return in TT (desktop) because the Capital loss carryover from the Wisconsin 2022 return did not transfer (import) to my 2023 return. I kept a copy of my original 2023 WI return, and then selected the 2023... read more

I have a rental property outside the US that does not qualify for 8995 but TT keeps adding it back everytime I delete it. How do I remove from my tax return?

TT even says it is not eligible but keeps adding the form. I entered all the information that excludes it for QBI.

Augment previous two years for property depreciation in TurboTax

I have a rental started in 2016. I never used property depreciation till this year 2024. How do I augment my tax returns 2022 and 2023 to claim for the previous two years deduction in TurboTax?

Offsetting LT capital gain tax with gains + deduction

I plan to do some stock selling which will have the following1. Long term capital loss of $13,0002. Long term capital gain of $18003. Short term capital gain of $1700 My questions are : 1. Can i offset the total capital gain of $3500 against $13,000 ... read more

When can the W4 Calculator be used for 2025?

I've had a similar experience in 2024 when I wanted to estimate my federal withholding in early March of 2024. The calculator https://turbotax.intuit.com/tax-tools/calculators/w4/ did not work properly, as if it was stuck in 2023. I waited till after... read more

Filling out Form 593 California with multiple sellers what do I put in the selling price? is it just my portion? Also a question about cost basis

Hi, the title pretty much asks the question. In section VI computation, do I put the sales price of the property or just my portion of it? Also, for the cost basis, it was a trust deed that the borrower defaulted on. And the lenders in the trust deed... read more

1031 Exchange glitch in Turbo Tax

When using the Self Employed version of TT and adding a 1031 property exchange I found a glitch I could not get by. After entering information for my relinquished property and my newly acquired like kind property, I get a prompt to enter amounts for"... read more

Can I claim 100% rental income in joint ownership

I own a property with 2 other Non resident Aliens. I am a resident alien. I maintain the property, leases are signed with me as landlord. I collect and keep the rent. I am the only one on mortgage and pay the mortgage and taxes. Can I claim 100% on t... read more

How to get code L on Form 8949 in TurboTax 2024?

This was available in TurboTax 2022 and prior. However they changed it in TurboTax 2023. It also appears missing in TurboTax 2024, unless I have overlooked something. It is frustrating what worked well in the past, is no longer an option. Reason for ... read more

how do i enter airbnb rentals?

is airbnb considered rental property?

I opened up a sole-proprietorship LLC to manage my rental property in Dec 2024. Do I need to file this income on my personal tax return or a separate business filing?TIA!

Located in Texas thank you!

Form 8949 - Paid Dividend on Short Sale

I have read paid dividends on short sales can be added to cost basis, if the broker did not already adjust the cost basis on 1099B. The issue is I can not get TurboTax to display it "correctly" with:-Proceeds (d) and Cost (e) matching 1099B-Code B in... read more