- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
Topics:
5 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
If the inspection cost is incurred to get the property ready for rental, it is not deductible as a rental expense.
If the inspection is incurred while the property was already on the rental market, it is deductible as a rental expense (under Professional Fees).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
It was the inspection for purchasing the property. Can I enter as the depreciation?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
You add this cost to the cost basis of your property to be depreciated.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
where does this cost and others get entered in TurboTax Home & Business, along with rental home search expenses
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017
I think it goes to "Any other adjustments?", "Enter any other increases and decreases to you property's value"