turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How to add rental property expenses in TT local-installed? I can enter income from 1099-MISC but not expenses.

I've used TT local-install for more than 25 years, last 6 years with rental property.  The step-by-step process normally prompts me for income on 1099-MISC and expenses (taxes, mgmt fees, HOA dues, etc.)  It did last year.  This year it only prompts me for the incom on 1099-MISC and never prompts for expenses.  It looks like I can manually enter info on the Sched E worksheet.  I have always used "Basic" version.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
AnnetteB6
Expert Alumni

How to add rental property expenses in TT local-installed? I can enter income from 1099-MISC but not expenses.

Try going to the Rental Income and Expenses section before entering your Form 1099-MISC.  

 

Using TurboTax Basic, go to Federal Taxes > Wages and Income > Rental Properties and Royalties and click Start or Update.

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

How to add rental property expenses in TT local-installed? I can enter income from 1099-MISC but not expenses.

Thanks for the response, and the pointer.  It helped somewhat:  I started a new return from scratch and follwed your suggestion of starting with the "Federal Taxes > Wages and Income > Rental Properties and Royalties and click Start or Update."  I was able to enter all the property info and the income from 1099-MISC and the expenses, just like in years before.  But, I had to enter all the property info and property mgmt info (name, address, TIN, etc.).  

If I started a new return and imported all the info from last year which has all the info from my property mgmt company already loaded, then TT would not step me through the expenses part of the rental property section.  While it is probably easier to re-enter the property info and the step-by-step through the expenses rather than import the property info and then add the expenses directly on Sched E, I would prefer to not do it this way.  I don't remember having to do it this way last year; if I recall correctly, I imported the previous year's return and TT stepped me through the Rental Property income and expenses directly.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies