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Where do I enter expenses on my rental property?

I put in granite countertops, painted the interior, and bought new furniture. Where do I enter these expenses?
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Vanessa A
Employee Tax Expert

Where do I enter expenses on my rental property?

Painting the interior would be listed as a Maintenance Expense on Schedule E.

 

Granite Countertops and Furniture would be listed as assets if the costs was more than $2,500.  You may be able to take a Section 179 Deduction to take full depreciation of the furniture and countertops  this year or you can choose to depreciate them over their useful life.  When you enter the items into TurboTax it will walk you through your options and allow you to choose which works best for you. 

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