Let's say I'm single and have $9,000 in total itemizable deductions attributable to mortgage interest and real estate tax on my primary residence and charitable deductions. I do not have enough to itemize. Let's say I also have $18,000 in gross income for a property I rent out and $7,000 in allowable deductible expenses for that same rental property. Are my itemized deductions now $16,000, taking me over the $12,000 threshold? Or are rental expenses excluded from the itemized deductions calculation and reported elsewhere?
You'll need to sign in or create an account to connect with an expert.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
AdamBATL
Level 1
ead307d72a5f
New Member
ghhou1
New Member
LCTx
New Member
azivnurse
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.