@jpalatinus wrote:
....If we pursued this could the rental income be entered in turbo tax under rental property like my house rental?
No. Schedule E income and expenses (Part I) is used to report income/expenses from rental real estate and royalties, not the rental of personal property, such as a bulldozer or an attachment.
See https://www.irs.gov/taxtopics/tc414
Personal Property Rentals
- Report income and expenses related to personal property rentals on Schedule C, if you're in the business of renting personal property.
- Report income on line 8k and expenses on line 24b of Schedule 1 (1040), if you're not in the business of renting personal property.
