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elel
Level 1

How do I get Turbo tax (using online TurboTax premium") to classify me as a material participant in a rental property without classifying me as a real estate professional?

How do I get Turbo tax (using online TurboTax premium") to classify me as a material participant in a rental property without classifying me as a real estate professional?

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DawnC
Employee Tax Expert

How do I get Turbo tax (using online TurboTax premium") to classify me as a material participant in a rental property without classifying me as a real estate professional?

If you indicate you are a real estate professional, you get the material participation question on each property instead of the active participation question.    So, you would need to indicate real estate professional status to get the material participation question on each Schedule E property.   

 

Schedule E vs Schedule C rental property reporting

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1 Reply
DawnC
Employee Tax Expert

How do I get Turbo tax (using online TurboTax premium") to classify me as a material participant in a rental property without classifying me as a real estate professional?

If you indicate you are a real estate professional, you get the material participation question on each property instead of the active participation question.    So, you would need to indicate real estate professional status to get the material participation question on each Schedule E property.   

 

Schedule E vs Schedule C rental property reporting

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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