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03-05-2017 06:05 PM
Your interest and real estate taxes are indirect expenses of the rental. They will go in the expense section of Schedule E. Your rental revenue is entered just before you get to the expense part.
In the H&R Block software your expenses will be entered in the adjustments & deductions section of the interview.
If you have any other questions I'll be glad to help.
Senior Tax Advisor (Tampa, FL)
04-08-2017 10:56 AM
We moved from our old home to a new one out of state. We converted the old home to a rental property on January 1, 2016.
What do we use as basis for the new rental (old home).
Should we use what we paid 17 years ago or the current valuation of the property.