Miscellaneous Expenses
If you can't find a category that fits and your expense is an ordinary and necessary expense, you can usually enter it under miscellaneous. If you need more space for miscellaneous expenses, you may need to combine some but be sure to keep the detail with your supporting documents.
Typically you do NOT enter any vehicle expenses, home office expenses, and assets here. Be sure you're entering your expenses in the right location. Vehicle expenses must go on the vehicle expenses screen, while things like utilities usually go on the home office expense screen. If you have an asset, you may need to depreciate it rather than enter it as an expense.
Expenses incurred before renting out a rental property or assessments incurred after you begin renting it out will need to be added to the basis and depreciated over the life of the property.
What if I have nontaxable Medicaid waiver payments for my business?
Typically you do NOT enter any vehicle expenses, home office expenses, and assets here. Be sure you're entering your expenses in the right location. Vehicle expenses must go on the vehicle expenses screen, while things like utilities usually go on the home office expense screen. If you have an asset, you may need to depreciate it rather than enter it as an expense.
Expenses incurred before renting out a rental property or assessments incurred after you begin renting it out will need to be added to the basis and depreciated over the life of the property.
What if I have nontaxable Medicaid waiver payments for my business?
