All rental income and expenses are reported on SCH E as a part of your personal 1040 tax return.
I see you're using the online version of Deluxe. If I recall, you'll have to upgrade to at least the Premier version.
If you use the CD version of the program, then you can report rental income/expenses on any version.
With deluxe, you'll eventually come to the section for SCH E if you work through the program as designed. You'll find it under the Personal Income tab in the Business Items section. Under that section it's called "Rental & Royalty Income (SCH E)".
Pay attention to detail, as the small print matters, big time. Ensure you select the option to indicate that this is "commercial" rental property that you own, and not residential rental property. Your commercial rental property will be depreciated over 39 years, where as residential rental property is depreciated over 27.5 years.
The below information is from a boilerplate I have that's primarily focused on residential rental property. It clarifies things a bit more than the program does. Hopefully you find it helpful. When dealing with rental property in TurboTax, absolute perfection in that first year is not an option....it's an absolute must. Even the tiniest of mistakes will grow exponentially over time. Then when you catch the mistake years down the road (usually in the tax year you sell the property) the cost of fixing it will be high. So if you have questions, by all means, ask.
Rental Property Dates & Numbers That Matter.
Date of Conversion - If this was your primary residence or 2nd home before, then this date is the day AFTER you moved out, or the date you decided to lease the property – whichever is later.
In Service Date - This is the date a renter "could" have moved in. Usually, this date is the day you put the FOR RENT sign in the front yard.
Number of days Rented - the day count for this starts from the first day a renter "could" have moved in. That should be your "in service" date if you were asked for that. Vacant periods between renters count also PROVIDED you did not live in the house for one single day for any type of personal pleasure use during said period of vacancy.
Days of Personal Use - This number will be a big fat ZERO. Read the screen. It's asking for the number of days you lived in the property AFTER you converted it to a rental. I seriously doubt (though it is possible) that you lived in the house (or space, if renting a part of your home) as your primary residence, 2nd home, or any other personal use reasons after you converted it to a rental.
Business Use Percentage. 100%. I'll put that in words so there's no doubt I didn't make a typo here. One Hundred Percent. After you converted this property or space to rental use, it was one hundred percent business use. What you used it for prior to the date of conversion doesn't count.
