topic Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?" in Investors & landlords

Does homeowners' insurance on a rental property qualify as an expense for a rental property under "insurance expenses?"

mattandmary — Tue, 04 Jun 2019 19:50:23 GMT

SandraM — Tue, 04 Jun 2019 19:50:24 GMT

Yes you can deduct homeowner's insurance on your rental property as an expense.

JAA1 — Tue, 11 Feb 2020 17:49:24 GMT

Were are the property insurance premiums entered, is there a form? if so do the forms differ for residence and rental?

JosephF8 — Tue, 11 Feb 2020 18:10:20 GMT

For the rental, property insurance is entered on Schedule E.

On your personal residence property insurance is not deductible.

To get to Schedule E in TurboTax:

Open or continue you return in TurboTax

Select Wages and Income

Next to Rental Properties and Royalties select Start or Update

Select Expenses insurance is listed with Common Expenses