My wife inherited her parents home a few years ago. It is in a different State. She has a friend watching the property for her. It is NOT rented. While TT was reviewing my return, it pointed to Schedule E, Complete For All Rental Properties that I needed to put 'Days rented at fair market value. I put 0, but it generates an error (Days rented must be greater than or equal to 15. If number of days rented is less than 15, the income and expenses should not be reported on this schedule.) Not sure how to address this.
Turbotax: Complete For All Rental Properties. Since it was not rental property it is not reported on Schedule E. Any taxes or mortgage interest would go on Schedule A. Any other expenses are not deductible.
Here is my problem. Somehow I must have input something into TT to indicate this is a rental property. It has never been a rental property. So what specifically do I need to change in TT to make sure it is treated as a 2nd home and NOT a rental?
For a second home that is not a rental, report Mortgage Interest and Property Tax paid as you do for your primary home.
If you're in TurboTax Online, in the left-side menu, go to Tax Tools > Tools > Delete a Form (from the pop-up menu).
In the list of forms in your return, look for Schedule E and/or Schedule E Worksheet, and/or Asset Entry Worksheet, and delete those forms.
Then close TurboTax, clear your Cache and Cookies, and return to the program.
In TurboTax Desktop, go to FORMS in the upper right corner, look for the forms and you'll see 'Delete Form' at the bottom of the form displayed.