My wife and I moved abroad for her job last year. We rented out our home
and spent some time and money prepping it for rent. I know we're supposed
to be able to deduct the start-up costs, but can't figure out where!
Searching the IRS site and using a book on the subject yields Section 195
and Form 4562, possibly line 42. Problem is, this appears to be
amortization only, which is not what we want to do. We're using Turbo-Tax
Premier Investments, which is supposed to cover rental property, but
doesn't even prompt for this or give us the option.
Could someone please point us in the right direction as far as HOW to do
this and the correct form/line? If someone happens to know how to do this
with Turbo-Tax, even better.
Archived from group: misc>taxes