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How to report expenses in Deductions&Credits for a rental apartment outside the US, that is NOT fair rental value?

 
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3 Replies
MarilynG
Expert Alumni

How to report expenses in Deductions&Credits for a rental apartment outside the US, that is NOT fair rental value?

Here's info on reporting Income and Expenses for a Below-Market Rental:

https://ttlc.intuit.com/replies/5954985



Edited 3/29/19 4:33 pm

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How to report expenses in Deductions&Credits for a rental apartment outside the US, that is NOT fair rental value?

Yes, I did that, only to get notified that since my apartment is less than fair market value, it is to be deleted from this section. I was then instructed to report in under Miscellaneous Income / Other reportable income, which I did. But that only covered income. I was asking about *expenses*, i.e. how to report *expenses* in Deductions&Credits for a rental apartment outside the US, that is below fair rental value?
MarilynG
Expert Alumni

How to report expenses in Deductions&Credits for a rental apartment outside the US, that is NOT fair rental value?

There is no place to claim expenses for a 'below market' rental.  Some items like Property Tax or Mortgage Interest can be claimed as Itemized Deductions on Schedule A; however if you don't itemize, this won't help you.  Look over the IRS info in the FAQ link... is your rental really alot below market? Do you use the property personally at all?
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