topic The "learn more" screen does not open for rental income in Investors & landlords

The "learn more" screen does not open for rental income

dumbdodo-1 — Tue, 04 Jun 2019 00:26:45 GMT

There are a lot of screens in that section, and some have...

mesquitebean — Tue, 04 Jun 2019 00:26:46 GMT

There are a lot of screens in that section, and some have more than one "learn me" link. Please describe which one you are looking at.

I think I found the screen with the defective "Learn More...

mesquitebean — Tue, 04 Jun 2019 00:26:48 GMT

I think I found the screen with the defective "Learn More" link. See my answer and images below.

It's not working for me in the Self-Employed edition. I...

mesquitebean — Tue, 04 Jun 2019 00:26:49 GMT

It's not working for me in the Self-Employed edition. I see you appear to be using the Premier Edition; is that correct?
So it must not be working on both of those editions.
Thanks again for reporting this.

You are indeed correct. I believe you are referring to th...

mesquitebean — Tue, 04 Jun 2019 00:26:51 GMT

You are indeed correct.

I believe you are referring to the "Learn More" link in image #1 below.

When I click on that, the popup help screen is empty. (image #2)

I have reported this to TurboTax.

Thank you very much for reporting this glitch.

@dumbdodo?1 I've provided you the text of what should hav...

mesquitebean — Tue, 04 Jun 2019 00:26:52 GMT

@dumbdodo?1
I've provided you the text of what should have appeared in another answer on this page.

Here's what the "Learn More" popup for Rental Income shou...

mesquitebean — Tue, 04 Jun 2019 00:26:54 GMT

Here's what the "Learn More" popup for Rental Income should say if was working correctly:

Rental Income

Rental income is any payment you receive for the use or occupation of property. It can be in the form of cash, services or other property.

Here are some rental situations and how they affect income amounts you might enter here:

Advance Rent

Advance rent is income when you receive it.

For example, if you accept new tenants and they pay the first and last month's rent, the last month's rent will be used for the final month they occupy the property. The last month's rent is considered advance rent and is taxable when received.

Security Deposit

A security deposit is considered advance rent if it is to be used as a final payment of rent.

However, if it is to be returned to the renter at the end of the lease, it is considered to be refundable and not income. If a tenant forfeits any part of a security deposit, that part of the deposit becomes taxable at the time it is forfeited.

Payment for canceling a lease is considered rent and is taxable when you receive it.

Tenant Pays Expenses For You

Expenses and repairs your tenant pays instead of rent are considered your rental income. However, you can deduct the costs as expenses.

For example, if you are away and the tenant pays for an emergency repair and deducts it from his rent, this is both income and a repair expense.

Tenant Provides Services

Property or services provided by your tenant are taxable as income at the fair market value, but you can also include that amount as a maintenance or repair expense.

For example, a tenant is a painter and offers to paint your rental property instead of paying two months rent. The two months rent amount is both income and an expense.

Lease with Option to Buy

If the rental agreement gives the tenant the right to buy your rental property, payments you receive under the agreement are rental income until the tenant exercises his option to buy. Unless the rental payments are applied toward the purchase price, payments made before the option is exercised remain rental income.