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wkrummes
New Member

How I input this a collection payment, the old tenant pay $432.70 and after fees I was able to cash 211.16, How I input this in Turbo Tax ?

I used to rent my house, I currently live in, and about 4 years ago I had a Tenant that didn't pay the last month of rent, the account when to collections. This year collector received a partial payment of $432.70 after Collection fees and Management fees I was able to cash $211.16. How I input this in Turbo tax ?
1 Best answer

Accepted Solutions
MichaelL1
Level 15

How I input this a collection payment, the old tenant pay $432.70 and after fees I was able to cash 211.16, How I input this in Turbo Tax ?

Best and easiest way is to show this as Other Income on line 21 of the return.

You would report what you got as income which is $211.16.

To do this:

Go to Income section,

Then all way to bottom to Less Common Income

Click on bottom one, Miscellaneous Income

Then click on bottom one again, Other reportable income

and you type in a short narrative and enter the $211 as the amount. 

View solution in original post

2 Replies
MichaelL1
Level 15

How I input this a collection payment, the old tenant pay $432.70 and after fees I was able to cash 211.16, How I input this in Turbo Tax ?

Best and easiest way is to show this as Other Income on line 21 of the return.

You would report what you got as income which is $211.16.

To do this:

Go to Income section,

Then all way to bottom to Less Common Income

Click on bottom one, Miscellaneous Income

Then click on bottom one again, Other reportable income

and you type in a short narrative and enter the $211 as the amount. 

View solution in original post

wkrummes
New Member

How I input this a collection payment, the old tenant pay $432.70 and after fees I was able to cash 211.16, How I input this in Turbo Tax ?

Thank you very much
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