Rental property Total income $21,900.00. Expenses $9593 Net Income still $21,900? Please help.

[steelnut]

I have more than one rental, one adjusted the net income from the gross minus expenses. This did not happen on the second rental. This calculation did not show up, it did not take the expenses off?

[TurboTax-Peky]

In Forms mode, are you able to see a T776 for each of your rental properties? In each of these, do you see the income amounts and the related expenses? Are those adding up properly?

[steelnut]

yes both properties show up on separate T776 forms, one adds up correctly.
For the second property the T776 doesn't do the calculation for the expenses as they are entered?total expenses shown in line 9949 are not showing up on line 7 (personal portion = 100%)??

[steelnut]

Why isn't the calculation happening?

[TurboTax-Peky]

In the Rental Property Form (T776), there is a column under "Part 4 - Expenses" for "Personal %". This column is to mark the % used that was for personal purposes.

So for example, under "Total expenses", you would put the entire cost of your Utilities (let's say it is $500). In this example, I'm only renting out 40% of my house, so I would put 60% under the "Personal %", and then on the "Personal portion" it will calculate $300. In my Deducitble expenses (line 7), you will only see $200 calculated. Which is the portion that is NOT personal.

In your situation, if none of the expenses were used for personal purpose, then you should leave the entire "Personal %" column to 0%. Then you should see your expenses calculate.