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Level 4
posted Jun 6, 2019 8:10:49 AM

How do I deduct inspection cost for my rental property? Where should I enter in turbo tax? I bought the property in 2017

0 5 12225
5 Replies
Expert Alumni
Jun 6, 2019 8:10:51 AM

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).

Level 4
Jun 6, 2019 8:10:52 AM

It was the inspection for purchasing the property. Can I enter as the depreciation?

Expert Alumni
Jun 6, 2019 8:10:54 AM

You add this cost to the cost basis of your property to be depreciated.

New Member
Jun 6, 2019 8:10:54 AM

where does this cost and others get entered in TurboTax Home & Business, along with rental home search expenses

Level 2
Jan 9, 2022 8:14:46 PM

I think it goes to "Any other adjustments?", "Enter any other increases and decreases to you property's value"