Comments on: Tax Prep Checklist for Last Minute Tax Filing http://blog.turbotax.intuit.com/2012/04/05/tax-prep-checklist-for-last-minute-tax-filing/ It's all about the refund Thu, 16 May 2013 17:28:51 +0000 hourly 1 http://wordpress.com/ By: TurboTaxLisa http://blog.turbotax.intuit.com/2012/04/05/tax-prep-checklist-for-last-minute-tax-filing/#comment-33908 Sun, 15 Apr 2012 06:54:16 +0000 http://blog.turbotax.intuit.com/?p=10096#comment-33908 Hi Brenda,
Regarding your rental property, if you can show that you were actively trying to rent out your property you should be able to claim it as a rental.

Regarding your aunt’s property, you may be able to deduct the interest expenses and any property taxes as long as you can prove you paid those expenses. In addition, it sounds like you, your brother and sister inherited the property so you may be subject to inheritance tax if the property was not part of an estate.

Thank you,
Lisa Greene-Lewis

]]> By: Brenda Thoreson http://blog.turbotax.intuit.com/2012/04/05/tax-prep-checklist-for-last-minute-tax-filing/#comment-33821 Fri, 13 Apr 2012 23:50:32 +0000 http://blog.turbotax.intuit.com/?p=10096#comment-33821 I had an aunt that passed away, but my brother and sister are coowners and the property hasn’t been devided yet. They could not pay their share, so I had to pay the total amount, but it may not help anyways unless I file itemized format. Also, if I had no income from my rental this year, is it possible to file Schd E for tax cost, ins. cost, utilities cost, advertising cost, and all other expenses that normally go on the form. Renting my house has been difficult and it’s still not rented, so I am on a very low income right now. Also I had a catastrophic loss when a tree fell; they held out $500 ded, but also held out $500 for the roof, but treated them as two seperate claims. Help me if you can. Thank you so much!

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