How To Put Rental Property Tax Deductions into Turbo Tax

In this video we demonstrate how to enter your rental property information into Turbo Tax, cover active participation in the real estate venture and show you alternatives for determining what property tax values to use to maximize your depreciation deductions.

00:00 Introduction
00:55 Getting Started
01:20 Are You A Real Estate Professional
02:13 Adding A Rental Property To TurboTax
03:53 Fair Rental Days Calculation
07:18 Do You Actively Participate in Managing this Rental Property
09:52 Did you File Form 1099-NEC
10:51 Ending Information About The Rental Property
17:40 Entering Property Tax Values
25:02 Alternatives for Determining Property Tax Values
29:56 Schedule E and Schedule 1
31:21 IRS Depreciation Table for 27.5 Year Rental Real Estate

*** 2024 Tax Planning ***
Roth IRA Conversion Video Series
– Part 4: https://youtu.be/Egi_4P9ZqaM
– Part 3: https://youtu.be/r9v9ViAY6J8
– Part 2: https://youtu.be/y0arsL9BvQg
– Part 1: https://youtu.be/Cs50gaN0Q90

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