For rental income, it asks me to put in Annual Income Rents...What exactly am I to put in there? the full annual amount of rent collected or just the income extra after mortgage payment is taken off?
You will enter the gross amount of rent collected for the year (before any expenses).
You claim your expenses/deductions from this amount separately.
You will enter the gross amount of rent collected for the year (before any expenses).
You claim your expenses/deductions from this amount separately.
xlessard02-gmail
New Member
duckdrennan
New Member
ajmanso-yahoo-co
New Member
gaurav-bhide
New Member
ms-natroth
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.