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Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

 
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5 Replies

Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

What would be the difference?   Or are you splitting rent with someone else?   

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Carl
Level 15

Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

Total rent for the year. Remember, you're filing a yearly return.... not a monthly return.
Typically, if the program is asking for a monthly amount for anything, then that will be clearly stated somewhere in the small print on that same screen.

 

Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

No, I think I got the answer. It was for the Property Tax Information. I believe I just put what I paid for the entire year. 

Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

Yes, I believe that's what it is asking me. The total amount I paid for the year. 

Carl
Level 15

Do you supposed to put the TOTAL amount of rent paid last year, like add it up? or just the amount you pay for rent?

It was for the Property Tax Information.

I figured (incorrectly) that you were setting up a rental property on SCH E for the first time.

My state doesn't tax personal income. So I'm not privy to the credits/deductions offered by those states that do. I do know that some states offer a "renters credit" for property taxes paid by the property owner, so the renter can claim on the state return a portion of their rent as a property tax deduction. So it would make sense you'd be asked for rent paid for the year, and property tax values as well maybe.

 

 

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