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In the expenses section of Rental Property info TurboTax isn't saving certain expenses like utilities, insurance premiums and is instead saying "not started."

The rental property was our private residence for 5/12 of the year. I'm not sure if that complicates things or makes those expenses not deductible.
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3 Replies
PaulaM
Employee Tax Expert

In the expenses section of Rental Property info TurboTax isn't saving certain expenses like utilities, insurance premiums and is instead saying "not started."

Indicate in the Property Profile section and indicate that you converted your personal residence to a rental in 2024. In this section, you will enter the number of days that you rented the property and any personal use days (after it was a rental). 

If the property was not placed in service in 2024, then none of the expenses would be deductible. They would be added to the basis of the property once in service. 

If you have already done all of the above, then you might try clearing your cache and cookies or deleting the property altogether and then walk through the section again. It's a comprehensive section, so take your time answering all the questions.

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In the expenses section of Rental Property info TurboTax isn't saving certain expenses like utilities, insurance premiums and is instead saying "not started."

Thank you. Yes, I already indicated that it was a converted property in the profile and the program has adjusted the expenses accordingly. It shouldn't matter, but it was a rental then converted to our primary residence in August of 2024. The utilities, repairs, and home insurance should therefore be partially expensed yet again the program isn't acknowledging that I input those expenses. 

 

Why is it doing this? Anything particular I need to change in the profile? It already states a converted property.

PaulaM
Employee Tax Expert

In the expenses section of Rental Property info TurboTax isn't saving certain expenses like utilities, insurance premiums and is instead saying "not started."

I am not able to duplicate the same results when I enter expenses. You can try as I outlined above ; 

  •  If using an online product - Sign out, clear cache and cookies, then back in an try the section again.
  •  If using a desktop product - Check for updates under the Online menu, then try the section again.

Or, you might send a diagnostic copy of your return so your file can be examined further. This copy has all personal information removed. 
 

  • If online under Tax Tools, Tools, select 'share my file with agent'. 
  • If on a desktop select 'send tax file to agent' under the Online menu.
     

Then post the token number here on this thread. 
 

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