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Returning Member
posted May 31, 2019 5:34:59 PM

Can I deduct storage costs for rental property tools and supplies and where do I input it on Schedule E

We own 3 rentals. We rented storage unit to store tools, painting supplies, ladders and other supplies used for our properties. Is it deductible and where do you input?

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1 Best answer
Expert Alumni
May 31, 2019 5:35:01 PM

Yes, you can deduct storage costs as a rental expense as Other Expenses. When going through the expense section, you will be able to enter your own description (such as storage rent) and the amount. The data entry appears after commmon expenses, mortgage interest  are entered. Continue through the interview until you arrive at Any Other Expenses screen.  Please see attached picture.

1 Replies
Expert Alumni
May 31, 2019 5:35:01 PM

Yes, you can deduct storage costs as a rental expense as Other Expenses. When going through the expense section, you will be able to enter your own description (such as storage rent) and the amount. The data entry appears after commmon expenses, mortgage interest  are entered. Continue through the interview until you arrive at Any Other Expenses screen.  Please see attached picture.