Reporting Rental Income

[GaryinHawaii]

I have 4 rental apartments in one building. Should I list them each separately or lump them into one address (the building). Last year I lumped them together. 

[Carl]

Last year I lumped them together.

Then you must continue to do so. That's the only way the 2019 program can correctly import your depreciation and carry over losses from the 2018 tax file. For you to separate them out requires a "LOT" of paperwork with the IRS, and that's something TurboTax can not handle.

Once you group properties together, you're required to continue doing so. You can't switch between the two methods as you please.

[tagteam]

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@GaryinHawaii wrote:

I have 4 rental apartments in one building.

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Yes, that would be Multi-Family Residential; it's an apartment building, not a "grouped property".