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How do I enter my rental income and expenses in TurboTax?

SOLVEDby TurboTax77Updated February 04, 2022

Rental income is income you earn from renting a property that you own or have use of. You can own the property by yourself or with someone else. Rental income includes income from renting:

  • Houses
  • Apartments
  • Rooms
  • Space in an office building
  • Other real or movable property

For more information, visit Claiming Rental Income.

Note: Enter only deductible expenses that you weren't reimbursed for and haven't deducted elsewhere. If you rent out a part of the building that you live in, you can claim only the portion of your expenses that relates to the rented part of the building.

  1. Select Find from the TurboTax menu and enter T5013
  2. Select T5013 Partnership Income from the list and then select Go

You need to prepare a separate rental statement for each rental property you have. Canadian and/or foreign rental income and expenses are reported in the same section of TurboTax.

  1. Select Find from the TurboTax menu and enter rental
  2. Select Rental properties (or Rental property, depending on your TurboTax edition) from the list and then select Go
  • Enter your percentage of ownership in the Identification section and then:
    • If you're using TurboTax Online, select the Details of Other Owners checkbox on the Rental Profile, then select Continue and complete the Partner Details Statement, including the co-owners'/partners' percentage of ownership
    • If you're using TurboTax CD/Download, complete the Partner Details section, including the co-owners'/partners' percentage of ownership
  • Enter the total gross income. Don't enter just your portion/share

Related information

My friend lives with me and helps cover expenses. Do I have to report their payments as rental income?

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