You'll enter these expenses in the Rental Expenses section under Other Common Expenses. (Click the screenshots below for reference.)
To get to the rental expenses section:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click My Account (top right of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the search bar, type rental.
- Scroll down in the results box, highlight rental (schedule e), then click GO.
- You'll land on Income from Rentals or Royalty Property You Own. Click Yes.
- Check the boxes that apply under So far You're not a Real Estate Professional, then click Continue.
- If you have already entered your rental property information, you'll see the Rental and Royalty Summary. Click Edit next to the property for which you have management fees and repairs. (Note: If you haven't already entered your basic rental information, you'll be prompted to do so first.)
- Next you'll Review Your Rental Summary. Scroll down and click Start/Update next to Expenses. (Note: If you haven't already entered your Rental Income, do so first.)
- Click I'll choose what I work on when asked How do you want to enter your rental expenses?
- Now you'll be able to enter your management fees and repairs under Enter Common Expenses. When finished click Continue.
- Continue following the onscreen instructions to complete this section of the interview.
Where do I enter income and expenses from a rental property?
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