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CHANEY905
Returning Member

RENTAL WARRANTY DEDUCTION

I have a Warranty Plan on my Rental Property. And a security system with ADT

 

I use the home for Personal Days, should these expenses be included in that calculation?

 

Where do I enter them in Turbo Tax ? 

When  I add to Other Expenses, they are excluded from the personal use calculation.  

1 Best answer

Accepted Solutions
GiseleD
Expert Alumni

RENTAL WARRANTY DEDUCTION

You can enter the warranty plan under insurance and the ADT system under utilities. As a note, you can only deduct the percentage of these bills that are attributable to rental use. Here's how to enter this in TurboTax Online:

  1. In TurboTax, search for rentals and select the Jump to link at the top of the search results.
  2. Answer Yes to the question Did you have any rental or royalty income and expenses in 2019 for property you own?
  3. Follow the on-screen instructions as you proceed through the rental and royalties section.
    • We'll ask you to enter general information about your rental (like description, address, and ownership percentage).
    • 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.
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1 Reply
GiseleD
Expert Alumni

RENTAL WARRANTY DEDUCTION

You can enter the warranty plan under insurance and the ADT system under utilities. As a note, you can only deduct the percentage of these bills that are attributable to rental use. Here's how to enter this in TurboTax Online:

  1. In TurboTax, search for rentals and select the Jump to link at the top of the search results.
  2. Answer Yes to the question Did you have any rental or royalty income and expenses in 2019 for property you own?
  3. Follow the on-screen instructions as you proceed through the rental and royalties section.
    • We'll ask you to enter general information about your rental (like description, address, and ownership percentage).
    • 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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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