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 ?
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.
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.