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Rental property (both income and expenses) are reported to the IRS on Form 1040, Schedule E.
How do I fill out a Schedule E and mechanically do that in TurboTax online? Well, we happen to have a frequently asked questions page that describes just how to start this process. The link to that FAQ page is copied below (click the See Entire Answer button to view the whole page):
https://ttlc.intuit.com/replies/3288530
For a much more detailed discussion of residential rental properties (which also applies to commercial properties owned by an individual taxpayer), you may wish to look at IRS Publication 527 for helpful information on what deductions you are allowed, what income you have to report, etc. Here is a link to that Adobe pdf file:
https://www.irs.gov/pub/irs-pdf/p527
Finally, please keep in mind that you may need to upgrade your TurboTax online version, as Schedule E is available only to those using the Premier level product or above.
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