topic Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1939781#M62687 Wed, 17 Feb 2021 15:01:29 GMT walkerbh 2021-02-17T15:01:29Z Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1939781#M62687 Wed, 17 Feb 2021 15:01:29 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1939781#M62687 walkerbh 2021-02-17T15:01:29Z Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1939828#M62689 <P>Your rental expenses are deducted from your rental income.&nbsp; Both are reported on Schedule E of your tax return.</P> Wed, 17 Feb 2021 15:12:37 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1939828#M62689 TomD8 2021-02-17T15:12:37Z Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1940035#M62700 <P>Thanks for taking the time to answer. I get that the $3236 in repair costs reduces my rental income, but shouldn't that also reduce my taxable income and therefore my tax refund? I'm confused as to why my refund does not change based on my rental income.</P> Wed, 17 Feb 2021 15:52:36 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1940035#M62700 walkerbh 2021-02-17T15:52:36Z Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1940352#M62709 <P>Your deduction may be limited by the IRS' passive activity loss rules.&nbsp; See page E-3 of this IRS reference:</P><P><A href="https://www.irs.gov/pub/irs-pdf/i1040se.pdf" target="_blank" rel="noopener">https://www.irs.gov/pub/irs-pdf/i1040se.pdf</A></P> Wed, 17 Feb 2021 16:37:37 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1940352#M62709 TomD8 2021-02-17T16:37:37Z
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topic Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change. in Investors & landlords
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Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change.
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Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change.
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<P>Your rental expenses are deducted from your rental income.&nbsp; Both are reported on Schedule E of your tax return.</P>
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Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change.
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-should-the-3236-i-spent-repairing-and-maintaining-my-rental-property-be-deducted-from-my-taxable/01/1940035#M62700
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<P>Thanks for taking the time to answer. I get that the $3236 in repair costs reduces my rental income, but shouldn't that also reduce my taxable income and therefore my tax refund? I'm confused as to why my refund does not change based on my rental income.</P>
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Re: Should the $3236 I spent repairing and maintaining my rental property be deducted from my taxable income? Whether I enter $3236 or $0, my refund does not change.
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<P>Your deduction may be limited by the IRS' passive activity loss rules.&nbsp; See page E-3 of this IRS reference:</P><P><A href="https://www.irs.gov/pub/irs-pdf/i1040se.pdf" target="_blank" rel="noopener">https://www.irs.gov/pub/irs-pdf/i1040se.pdf</A></P>
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