- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
No. At least, not directly. Your income from selling online is reported on SCH C, whereas your rental income is reported on SCH E.
However, if you meet the requirements, you will be allowed to deduct a maximum of $25K in losses from the rental income, from the total of all of your other "ordinary" income. Depending on your numbers, it could be less, or none at all.
The TTX program will take care of that "for you" in the background, and not bother you with the details.
‎September 26, 2023
6:50 AM