turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can i report my rental income and mortgage in schedule E and claim standard deduction still. or should i only take itemized deduction

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Can i report my rental income and mortgage in schedule E and claim standard deduction still. or should i only take itemized deduction

Yes the Standard Deduction or itemized deductions on schedule A are separate from rentals on schedule E.    You can take the Standard Deduction.
Carl
Level 15

Can i report my rental income and mortgage in schedule E and claim standard deduction still. or should i only take itemized deduction

All rental income and expenses "has" to be reported on SCH E. On the SCH E, rental expenses are itemized as such no matter what. As for your standard deduction or itemized deductions on the SCH A, that has no relation to the SCH E.

Can i report my rental income and mortgage in schedule E and claim standard deduction still. or should i only take itemized deduction

where do I put the year that the rental property was first in service.  I want to capture the depreciation.

Can i report my rental income and mortgage in schedule E and claim standard deduction still. or should i only take itemized deduction

Look in the rental expenses section for the ASSETS area ...

 

assets rental.png

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies