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Rental expenses are not entered under Schedule A in the Deductions and Credits section. They are entered under Schedule E.
To enter your rental:
Hi, my rental is below fair market value, so not-for -profit. I still need to report it in "Miscellaneous Income" section and deduct property taxes, mortgage interests, and other expenses in Schedule A.
@delan168 wrote:
....my rental is below fair market value, so not-for -profit. I still need to report it in "Miscellaneous Income" section....
"Below fair market value" and "not-for-profit" are not synonymous. If you are simply renting a room to a family member, you might want to treat the "rental income" as a cost sharing arrangement and not report it at all.
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