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Max8
New Member

Where can I enter the purchase of a warehouse used for storage of appliances for rental properties, when the rentals are not a business but investments

I spend < 750 hrs/yr and < 50% work time on rentals income.
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3 Replies
view2
New Member

Where can I enter the purchase of a warehouse used for storage of appliances for rental properties, when the rentals are not a business but investments

.federal taxes/ wages & income/ select specific topics/ rental and royalties/ /view list(then )

I'll choose what I work on

Rental and Royalties Summary

click blue button bottom left  of screen (add another rental or royalty)

enter property information.

continue

"What kind of property is this'

Select commercial 'warehouse"

Follow prompt from there to enter as nonresidential asset depreciation 39 years.

Max8
New Member

Where can I enter the purchase of a warehouse used for storage of appliances for rental properties, when the rentals are not a business but investments

So I should add it as a rental property even when it is not a rental property?  It is a commercial warehouse owned by me as a place to store appliances and tools used by me for my actual rental properties.   As I do not spend > 750 hrs or 50% of my working time on these rentals, I am not considered a business.   Using Premiere.
view2
New Member

Where can I enter the purchase of a warehouse used for storage of appliances for rental properties, when the rentals are not a business but investments

I am using Home and Business, after I added another property the  following screens gave the choice "What kind of property is this"'[ LOL edited the name above   automatic spellchecker must have kicked in]

Commercial 'warehouse"  is given as a choice in Home and Business, so i cannot state for sure your version has that option.[a warehouse rental ,nonresidential, is still passive ,a Schedule E , even though you only own to use]

The selection for hours is for a real estate professional , so that is not a factor.
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