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Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"

 
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3 Replies
SandraM
New Member

Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"

Yes you can deduct homeowner's insurance on your rental property as an expense. 

JAA1
Returning Member

Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"

Were are the property insurance premiums entered, is there a form? if so do the forms differ for residence and rental? 

JosephF8
Expert Alumni

Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"

For the rental, property insurance is entered on Schedule E.

On your personal residence property insurance is not deductible.

 

To get to Schedule E in TurboTax:

 

Open or continue you return in TurboTax 

Select Wages and Income 

Next to Rental Properties and Royalties select Start or Update 

Select Expenses insurance is listed with Common Expenses

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