TurboTax will walk you through the steps and decide if you should be using Form 4835 or Schedule E, but generally you will use:
- Schedule E, if you are receiving fixed cash payments for rent; OR
- Form 4835, if you received a share of the production as rent.
If you used Form 4835 last year, but need to switch over to schedule E for 2019, be sure to "sell" the Form 4835 to end that reporting schedule. (You can sell it at -0- so you are not recognizing a gain or loss, then transfer any assets over to the Schedule E manually.)
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