Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
maikens55
New Member

Why did entering rental income expenses not change my amount owing? I had rental income and expenses. Entering income affected the amount - entering expenses did not.

My expenses were home insurance, utilities, property taxes, and interest on my mortgage, as the rental unit is part of my principal residence.

1 Best answer

Accepted Solutions
maikens55
New Member

Why did entering rental income expenses not change my amount owing? I had rental income and expenses. Entering income affected the amount - entering expenses did not.

I was able to get an answer when I complained on TurboTax Canada's facebook page, and someone scheduled a callback. It was as I suspected, a simple misunderstanding. I had set the "personal" amount to 100%, thinking that meant I personally paid that much in expenses. I also put only the percentage that was expensed for the rental property. So for example, if the apartment was 30% of the square footage of the entire house, and I paid $3000 in taxes, this is what I did:
                   Amount        Personal %      Total
Taxes:              900                    100            0

what I should have done was:

                   Amount       Personal %     Total
Taxes:             3000                    70        900


Hope this helps someone else


View solution in original post

2 Replies
maikens55
New Member

Why did entering rental income expenses not change my amount owing? I had rental income and expenses. Entering income affected the amount - entering expenses did not.

If more info is needed, please let me know
maikens55
New Member

Why did entering rental income expenses not change my amount owing? I had rental income and expenses. Entering income affected the amount - entering expenses did not.

I was able to get an answer when I complained on TurboTax Canada's facebook page, and someone scheduled a callback. It was as I suspected, a simple misunderstanding. I had set the "personal" amount to 100%, thinking that meant I personally paid that much in expenses. I also put only the percentage that was expensed for the rental property. So for example, if the apartment was 30% of the square footage of the entire house, and I paid $3000 in taxes, this is what I did:
                   Amount        Personal %      Total
Taxes:              900                    100            0

what I should have done was:

                   Amount       Personal %     Total
Taxes:             3000                    70        900


Hope this helps someone else