TurboTax for Rental Property | TurboTax Premier Download

Which version of TurboTax for rental property?

Handle all the tax related work for your Rental property using TurboTax Premier or TurboTax Self-Employed product purchase

The best TurboTax for rental property is TurboTax Premier which handles tax e-filing for both Investors & Multiple property owners as well. It not only perform taxes well but also enhances deductions including depreciations & expenses. 

The cherry on the top is tax management & online filing is much efficient when it comes under TurboTax Premier.

Other is TurboTax Self-Employed, ideal for business owners especially Landlords finding it hard to meet tax return filing obligations. It eases their daunting task with tools to handle both Self-employment income & Rental incomes.

How do I enter my rental property in TurboTax?

• Report your Rental income on TurboTax by entering your Rental Property details into the Personal Information section.

• At the Tax Home screen, tap on the 'Continue' button.

• Now, tap on the 'Jump to' link as you make search for Rentals.

• Affirm the dialog box with 'Did you have any income from rentals or royalties?' question.

• As per your tax situation select the option at 'Let's see if you're a real estate professional' screen.

• Choose 'Rental Property' & tap on the 'Continue' button.

• Go ahead with on-screen prompts to the 

• Thereafter, enter all the rental property details into the Box. Report expenses like Mortgage Interest, Property taxes, Insurance & Depreciation. 

• Now, proceed ahead with reviewing your information & submit the whole details.

How to enter depreciation for rental property in TurboTax?

• Upon signing up your TurboTax account, navigate to the 'Wages & Income' section.

• Under 'Rental Properties' section, put in the details asked related to your Rental property.

• Choose the property for which you want to put depreciation among all other properties.

• Under 'Expenses' section, select the section to mention about it. And answer question pertaining to depreciation.

• As you move ahead, provide details related to your Property. Now, TurboTax will guide you further to complete whole TurboTax Calculations.

• Then, it will ask you about certain parameters to do tax calculations for you. Now as you move further, the tax calculations are incorporated along with the Tax return calculations.