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

Start taking rental depreciation now when not in the past

I have not depreciated my condo rental property since it was put in service in 2019. I read that Form 3115 is needed to depreciate & adjust cost basis for PRIOR years. (1) Can I add it as an asset now with in-service date of 2019 or current year 2024... read more

Where is the .15% rate for capital gains shown & taken?

On my return the amount shown on line 16 of Schedule D Part 3, appears to be the gross amount of my capital gains and is also shown on schedule 1040-SR line 7 which then becomes part of my taxable income which is taxed at my full tax rate.

Need Form 3115 Help - Missed Rental Depreciation

Hi, We missed claiming depreciation on our rental property from 2019 through 2024, except for one year (2021), which needs a small correction in the calculation. We’re planning to file Form 3115 to correct this and have already filed for an extension... read more

Form 8096 line 4a and 4b

I had passive income of $13000 for rentals, and a loss of -9000 in businessMy MAGI is above the threshold so I have to pay the NIIT. TT fills in Form 8960 automatically with 4a as 130004b as 9000c Combine lines 4a and 4b = 22000 Then I am taxed 3.8% ... read more

Why is mortgage interest on my rental property quesion have the lender name prefilled out 2 times with (2023) and (2022) next to it? I need to report 2024

Should I delete those 2 and hit "add" to report my 2024? It really feels like its asking for the last 2 years but why?

I converted my primary home to rental. I moved out 11/15 and the property was rented out on 12/1. Day rented is 31 days. Is personal use start from 1/1 to 11/15?

Search in the community seems like the personal use meant the personal use after its rented....So people are saying 0. Also as for property tax and mortgage interest we split based on days rented 31 days and 334 owned correct?

how to report sales of rental houses and the profits those sales made?

What is the difference between stock basis and tax basis? Do we need to file any forms to report Tax basis?

Prior Depreciation for a sold rental property: Asking for Total Depreciation Claimed & Total AMT Depreciation. TT calculates a big #, though I never took depreciation?

Is this the depreciation recapture section? I've read I have to pay that gain regardless of whether or not I've taken the deduction in the past (I haven't) but if I input the zero claimed vs. the TT auto calculation, my refund jumps hundreds of dolla... read more

I bought a property that has my home and a separate rental cottage on it. Do I enter all mortage interest from Form 1098, or half since I only rent half the property?

TurboTax says to enter all mortage interest and it will allocate my personal portion over to the deductions section. But Iʻm concerned that itʻs assuming I rent the entire property for which I have a mortgage (I only rent out the rental cottage - not... read more