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Where in the "Deductions and Credits" section to enter rental expenses ( mortage interest and property tax) and other expenses? How to bring up Schedule A?

 
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3 Replies
GiseleD
Expert Alumni

Where in the "Deductions and Credits" section to enter rental expenses ( mortage interest and property tax) and other expenses? How to bring up Schedule A?

Rental expenses are not entered under Schedule A in the Deductions and Credits section. They are entered under Schedule E. 

 

To enter your rental:

  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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Where in the "Deductions and Credits" section to enter rental expenses ( mortage interest and property tax) and other expenses? How to bring up Schedule A?

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. 

Where in the "Deductions and Credits" section to enter rental expenses ( mortage interest and property tax) and other expenses? How to bring up 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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