I purchased a rental property in Nov 2018. Rental agreement stared from Jan 2019 but I received one month payment as deposit in Nov 2018. Do I enter the amount as 2018 income or 2019? Can I claim rental expenses in 2018 in this case?"
Rental Expenses must be claimed in the year they were incurred. Therefore you would apply this in 2019.
Please see the link below to learn how to enter them in TurboTax.
How do I enter my rental income and expenses in TurboTax? https://turbotax.community.intuit.ca/replies/2647946Ayad1
Level 1
jesse97lee1@gmai
New Member
Ayad1
Level 1
fessell810
New Member
vinny8
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.