expenses

Forum|Forum|4 years ago
February 16, 2022
3 replies
36 views

In Turbotax

deluxe where do expenses for supplies get entered for a short term rental that will not be amortized?

Best answer by DaveF1006

VTw6 If you are reporting income and expenses from a short term rental, you will need to upgrade to Turbo Tax Premier. Then to report, go to:

federal>wages and income
See all income
Rentals, Royalties, and Farm>Rental Properties and Royalties (Sch E)>start or revisit
Follow the prompts and as you do, there will be sections to enter your income and expenses for the short term rental. Supply expense is one of the expenses listed where you can make your entry. once entered, the expense will show up in the right column in the Schedule E.

ColeenD3

Level 15

When entering your expenses in the Rental section, you can include supplies on Line 15: supplies. In the program, the screen shows this:

Supplies

Examples:

Toner or ink for printers
Pencils, pens, staples
Pesticides, janitorial items, pool chemicals

VTw6Author

Level 2

In Turbotax Deluxe where do expenses for supplies get entered for a short term rental that will not be (correct wording) allocated? I am using line 15 but it is allocated...thanks VTw6

DaveF1006Answer

Level 15

VTw6 If you are reporting income and expenses from a short term rental, you will need to upgrade to Turbo Tax Premier. Then to report, go to:

federal>wages and income
See all income
Rentals, Royalties, and Farm>Rental Properties and Royalties (Sch E)>start or revisit
Follow the prompts and as you do, there will be sections to enter your income and expenses for the short term rental. Supply expense is one of the expenses listed where you can make your entry. once entered, the expense will show up in the right column in the Schedule E.

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