Investors & Landlords Tax Forum Q&A

Investors & landlords

All About Rental Real Estate & Vacation Rentals

You’re in great company if you’re thinking about joining the rapidly expanding group of real estate investors. Whether you want the adventure of becoming a full-time landlord or simply looking to make a little extra cash by renting out a room - or yo... read more

Can I continue depreciation based on history?

Turbotax-on-line doesn't have my previous tax returns. Those were filed with Turbotax on my PC.

How to split capital gains distribution between two state returns since we moved mid-year? My 1099-DIV doesn't give the date that the capital gains distribution was made.

Since I'm not sure what date the distribution was made, I'm not sure if I split it in half and put half on our NY return and half on our IA return? We moved to IA from NY on 7/28/2015.My question would also apply to how we handle the interest income ... read more

Does Turbotax use 1099-B "Proceeds from Broker" transactions if no cost basis is reported and instead "Supplemental" transactions are used

I’m going to start by trying to ask a general question, and then I’ll give details on why I’m am asking: Q: If all transactions in the 1099-B “Proceeds from Broker” section do not have a reported cost basis and instead turbotax uses the transactions ... read more

Split Mortgage Interest and Taxes due to Rental

This past year we started renting out space above our attached garage. We rented it in Sept, Oct, Nov and December and that space represents about 23% of our overall square footage of the house.In TT I entered the following:1. Its a single family )ho... read more

My question wasn't answered last year. It also wasnt't answered again this year. Refund please. Long time customer!

My question wasn't answered last year. It also wasn't answered again this year. Refund please. Long time customer!

Federal Tax exempt-interest dividends

I am filing an amended return via Turbo Tax. I have entered an amount from box 12 from a 1099-DIV (exempt-interest dividends). Turbo Tax is counting this as income that is taxable by the IRS. It is telling me I owe taxes on the amount listed in Box 1... read more

Homeshare: Assigning appropriate proporation of expenses

I shared 1/2 of my house for 1/3 (4 months) of the year. How do I calculate what fraction of expenses (property taxes/insurance/utilities/maintenance/supplies) I may deduct? My inclination is 1/2 * 1/3 * total annual expense, but would like to clarif... read more

Rental Property Depreciation

Turbo Tax is incorrectly calculating annual depreciation on my rental property and I don't know how to fix it. It seems this is a fundamental flaw with TT 2025.

How to instruct TurboTax Deluxe 2022 to designate k-1 partnership as 1411(c)(2)(b) for NIIT

I need to specify that I get a k-1 from a company that is involved in trading in financial instruments or commodities per 1411(c)(2)(b). The effect should be that when calculating NIIT on Form 8960 4b to not offset 4a. Form 8960 Line 4b is for: "Net ... read more

how do I enter cash liquidation distribution from form 1099-div

vehicle depreciation issue over the years

We have been using personal vehicle for business. This year I realized, the depreciation is not entered correctly in the system or maybe i am missing something. How do i fix it. I don't think the car is 100% depreciated and the 6 year depreciation is... read more

200DB Depreciation Calculator Not Returning Correct Values for 2025?

I'm using TurboTax Premier (desktop) for TY 2025 after my CPA announced her retirement. She produced depreciation tables for various DST (fractional real estate) assets thru TY 2024. When I enter the assets and property types, TurboTax returns the co... read more

Double-counting mortgage interest and real estate tax for my primary residence with airbnb for spared room

Turbotax appears to be double-counting mortgage interest and real estate tax for my primary residence where I rent two spare rooms for airbnb. I both use the property as my primary residence and rent out part of the property (basement). Is there a wa... read more

I have a short term rental that had 128 days of fair use and 153 days of personal use. Turbotax error checker says "personal use days should not be more than zero"?

The error checker says that I had indicated that this is an owner-occupied rental property, thus personal use days can't be more than zero. I don't remember telling turbotax this. How do I fix this?