topic Can i put the income from a house rental i own on my scedule c , if so can i put the property tax as an expense? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-put-the-income-from-a-house-rental-i-own-on-my-scedule-c-if-so-can-i-put-the-property-tax-as/01/362704#M14393 Mon, 03 Jun 2019 23:22:48 GMT joshsauto84 2019-06-03T23:22:48Z Can i put the income from a house rental i own on my scedule c , if so can i put the property tax as an expense? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-put-the-income-from-a-house-rental-i-own-on-my-scedule-c-if-so-can-i-put-the-property-tax-as/01/362704#M14393 Mon, 03 Jun 2019 23:22:48 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-put-the-income-from-a-house-rental-i-own-on-my-scedule-c-if-so-can-i-put-the-property-tax-as/01/362704#M14393 joshsauto84 2019-06-03T23:22:48Z TurboTax will walk you through the common rental deductio... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/turbotax-will-walk-you-through-the-common-rental-deductio/01/362711#M14396 <P>TurboTax will walk you through the common rental deductions, just be sure to notate that you have rental income in the income section.&nbsp; However, this won't be on your Schedule C (that is meant for sole proprietor profit and loss). Here's a deep dive on how to do this in TurboTax:&nbsp;<A href="https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71" target="_blank">https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71</A></P><P> <BR /> </P><P>From IRS site:</P><P> <A rel="nofollow" href="https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-deductions-and-recordkeeping" target="_blank">https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-dedu...</A> <BR /> </P><P> <BR /> </P><P>If you receive rental income from the rental of a dwelling unit, there are certain rental expenses you may deduct on your tax return. These expenses may include mortgage interest, property tax, operating expenses, depreciation, and repairs.</P><P>You can deduct the ordinary and necessary expenses for managing, conserving and maintaining your rental property. Ordinary expenses are those that are common and generally accepted in the business. Necessary expenses are those that are deemed appropriate, such as interest, taxes, advertising, maintenance, utilities and insurance.</P><P>You can deduct the costs of certain materials, supplies, repairs, and maintenance&nbsp; that you make to your rental property to keep your property in good operating condition.</P><P>You can deduct the expenses paid by the tenant if they are deductible rental expenses. When you include the fair market value of the property or services in your rental income, you can deduct that same amount as a rental expense.</P> Mon, 03 Jun 2019 23:22:50 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/turbotax-will-walk-you-through-the-common-rental-deductio/01/362711#M14396 SusieR 2019-06-03T23:22:50Z
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topic Can i put the income from a house rental i own on my scedule c , if so can i put the property tax as an expense? in Investors & landlords
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-put-the-income-from-a-house-rental-i-own-on-my-scedule-c-if-so-can-i-put-the-property-tax-as/01/362704#M14393
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Can i put the income from a house rental i own on my scedule c , if so can i put the property tax as an expense?
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-put-the-income-from-a-house-rental-i-own-on-my-scedule-c-if-so-can-i-put-the-property-tax-as/01/362704#M14393
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TurboTax will walk you through the common rental deductio...
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<P>TurboTax will walk you through the common rental deductions, just be sure to notate that you have rental income in the income section.&nbsp; However, this won't be on your Schedule C (that is meant for sole proprietor profit and loss). Here's a deep dive on how to do this in TurboTax:&nbsp;<A href="https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71" target="_blank">https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71</A></P><P> <BR /> </P><P>From IRS site:</P><P> <A rel="nofollow" href="https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-deductions-and-recordkeeping" target="_blank">https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-dedu...</A> <BR /> </P><P> <BR /> </P><P>If you receive rental income from the rental of a dwelling unit, there are certain rental expenses you may deduct on your tax return. These expenses may include mortgage interest, property tax, operating expenses, depreciation, and repairs.</P><P>You can deduct the ordinary and necessary expenses for managing, conserving and maintaining your rental property. Ordinary expenses are those that are common and generally accepted in the business. Necessary expenses are those that are deemed appropriate, such as interest, taxes, advertising, maintenance, utilities and insurance.</P><P>You can deduct the costs of certain materials, supplies, repairs, and maintenance&nbsp; that you make to your rental property to keep your property in good operating condition.</P><P>You can deduct the expenses paid by the tenant if they are deductible rental expenses. When you include the fair market value of the property or services in your rental income, you can deduct that same amount as a rental expense.</P>
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