Do i enter the amount of profit on my rental property income. I only profit $20 per month after paying the mortgage and HOAS.

[Lisa995 · Accepted solution]

No.  You enter the total rental income you received.  Then you list your expenses.  The mortgage payment itself isn't a deduction, but the mortgage interest is.  The interview should walk you through, you'll need to set the house up as an asset, so you'll need the purchase price of the house or the Fair market Value at the time it become a rental, you use whichever is less.