I leased my home out. Can I still claim the property tax I paid on it when filing even though I am not living there any more?

[Anonymous · Accepted solution]

claim on schedule e.  if your asking about a state credit, what state and what type of credit.  For Illinois, you would not be entitled to a credit for real estate taxes since it's rental property and not your primary residence. 

[CH-in-Texas]

I'm in Texas so it would be for county and school tax bills paid in the same year for that property. Are you suggesting that as it is no longer my primary residence any more I can't deduct those from my annual tax return?

[Texas Roger]

You should be reporting the home you leased out as a rental. The property taxes are deductible as a rental expense and reported on Schedule E along with other rental income and expense information.

[CH-in-Texas]

Thank you for the explanation. I am very grateful to you for the advice : )

[Critter]

Where do I enter income and expenses from a rental property?

Note: If your rental property is located out-of-state, make sure you first set up that state properly in Personal Info. That way, when you do your state taxes, we'll be ready to go.

Now let's enter that rental:

1.    In TurboTax, search for rentals and then click the "Jump to" link in the search result.

2.    Answer Yes to the question Did you have any rental or royalty income and expenses?

3.    Follow the on-screen instructions as you proceed through the rental and royalties section.

o    We'll first ask you to enter general information about your rental (description, address, ownership percentage, etc.)

o    Eventually, you'll come to the Rental Summary screen which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.

Tip:  Rent is considered income in the year you received it, not the year it applies to. This means that a rent payment for the month of January 2018 collected in December 2017 is reported on your 2017 return.

If you're also filing a nonresident state return to report income from an out-of-state rental property, be sure to complete your nonresident state return before you prepare your resident state return when you get to the State Taxes section.

Related Information:

·         Can I claim a security deposit?

·         What kinds of rental property expenses can I deduct?

·         What is rental depreciation and how does it differ from an expense?

·         How do I handle capital improvements and depreciation for my rental?

 Also make sure to read all the screens carefully in that section especially in the year the home is converted from a personal residence to a rental ... once the home is a rental you have ZERO personal use days ....AND you MUST depreciate the home ... it is a requirement not an option.  And the common expenses for the personal use portion of the year and the rental portion must be prorated ... either do it yourself or let the program do it but do not do both ... personal goes to the Sch A & the rental to the Sch E.