I bought a house my first one I paid in full I want to rent it out but it needs work so it isn’t rentable I don’t know how to do taxes on it

[sextonjoe_1984]

My primary residence is not my home it’s my fiancé

[AnnetteB6 · Accepted solution]

If you purchased the house outright, then you do not have a mortgage or mortgage interest to deduct.  Also, it has not been placed into service as a rental property yet, so you would not have any Schedule E income or expenses.

The only thing you would be eligible to deduct at this time would be the property taxes that you paid in 2022.  It does not have to be your primary residence in order to deduct the property tax.  However, you must be claiming itemized deductions in order to receive a possible tax benefit for the deduction.

Use the following steps to go to the section of your return to enter the property tax amount:

• On the top row of the TurboTax screen, click on Search  
• This opens a box where you can type in “property tax” (be sure to enter exactly as shown here) 
• The search results will give you an option to “Jump to property tax”
• Click on the blue “Jump to property tax” link and enter your information

[Carl]

For 2022 taxes you have nothing to report on SCH E. Your only deductions are mortgage interest paid in 2022, and any property taxes you paid in 2022. They are both SCH A itemized deductions. If you are not itemizing deductions, then it will have no impact on your tax liability.