For TurboTax premier 2022, Federal tax portion, under wages and income, Rental income (schedule E).
My rental property is in Hawaii and we have been paying Hawaii's own GE, TAT, and OTAT taxes throughout the year. Can those amounts be entered under the Expenses -> Other Taxes field for the property?
Thank you.
You'll need to sign in or create an account to connect with an expert.
Yes, it does state in the following IRS publication that deductible real estate taxes are generally any state or local taxes on real property levied for the general public welfare. The charge must be uniform against all real property in the jurisdiction at a like rate. These taxes would fall under these guidelines.
Yes, it does state in the following IRS publication that deductible real estate taxes are generally any state or local taxes on real property levied for the general public welfare. The charge must be uniform against all real property in the jurisdiction at a like rate. These taxes would fall under these guidelines.
Thank you, if my property manager charges a sales tax on their management fees, is the sales tax a deductible expense from the rental property income?
Yes, that expense is deductible as well.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
kritter-k
Level 3
Taxfused
New Member
asdfg1234
Level 2
carchasecity
New Member
sandyreynolds
Level 1