My rental owner statement shows an expense for appliances; however, I am not sure where to enter the expense in turbo tax? Am I able to deduct it?
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Yes, if your property manager charged your account for an expense, that expense is deductible for purposes of reporting your income from the rental property.
You report the expense in the Income section Rental Properties and Royalties (Sch E). Click the "magnifying glass Search" icon on the top row, enter "rental expenses" in the search window and press return or enter, and then click on the "Jump to rental expenses" link to access the Rentals questions.
Yes, if your property manager charged your account for an expense, that expense is deductible for purposes of reporting your income from the rental property.
You report the expense in the Income section Rental Properties and Royalties (Sch E). Click the "magnifying glass Search" icon on the top row, enter "rental expenses" in the search window and press return or enter, and then click on the "Jump to rental expenses" link to access the Rentals questions.
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