turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

susanoday
Returning Member

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

I'm filling out Schedule E for the first time for a vacation rental. Very confused as to where to put different expenses. Does furniture go under assets that are depreciated? What about all the things I bought to decorate the rental with? What about sheets and towels and bedspreads. Also, toilet paper, paper towels, gifts for guests. Is there somewhere I can find this information? I need specific information about what category these go in on Schedule E. Thanks to anyone who can help.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

Furniture is an asset. You can set up all of your furniture as a single asset, or you enter them individually.  Any item with a cost less than $2,500 can be expensed.  Things you bought to decorate with I would include with Other. Sheets, towels, linens, paper products, etc. would be supplies.  You can use Other for anything that doesn't fit somewhere else. There aren't a lot of Schedule E categories to choose from.  More important that the categories is maintaining good records. 

Following is a link to Schedule E, the tax form which all of these items flow to.  This should help you see what the end categories are. https://www.irs.gov/pub/irs-prior/f1040se--2018.pdf


View solution in original post

5 Replies
DDollar
Expert Alumni

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

Furniture is an asset. You can set up all of your furniture as a single asset, or you enter them individually.  Any item with a cost less than $2,500 can be expensed.  Things you bought to decorate with I would include with Other. Sheets, towels, linens, paper products, etc. would be supplies.  You can use Other for anything that doesn't fit somewhere else. There aren't a lot of Schedule E categories to choose from.  More important that the categories is maintaining good records. 

Following is a link to Schedule E, the tax form which all of these items flow to.  This should help you see what the end categories are. https://www.irs.gov/pub/irs-prior/f1040se--2018.pdf


susanoday
Returning Member

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

Thank you so very much. It is perplexing why the information you gave me wasn't easier to find. It seems like others would have similar questions with a new vacation rental. Thanks again!
DDollar
Expert Alumni

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

You're welcome.  Thanks for using TurboTax!!
Laima
New Member

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

@DDollar 

That is super helpful!

Just to clarify - is anything else under $2500 is an expense or does it include furniture under this amount? Would things like light fixtures, security cameras, TV, etc would also fall under the assets even if it's under $2500?

 

JohnB5677
Expert Alumni

Where do I deduct expenses like linens, toilet paper, curtains, decorations, shampoo, sofa, bed, tables?

Yes, all of the items you have identified can be expensed if they cost less than $2,500.  However, you do have the option to depreciate any or all of them as assets if you choose to.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies