What @DianeW777 is telling you in her answer is that you should start by deleting the schedule E you created. You can't use schedule E for a not-for-profit rental. And since you are not using schedule E you will enter all of your mortgage interest and property taxes on schedule A.
Then follow her instructions to enter your profit from the rental (don't deduct mortgage interest or property taxes). If that is zero then you don't have to enter anything. BUT IT CAN"T BE A NEGATIVE NUMBER.
So we assume that you're at zero for the year (for the sake of argument). Your 1099K shows $5000 and you have $5000 in expenses so the correct amount to enter is zero. But you want to make sure that the IRS sees the number from the 1099K.
Make two entries in the Miscellaneous income section that Diane sent you to. Make one entry for the full amount on the 1099K and call that "Not-For-Profit Rental Income". Then make a second entry labeled "Expenses for Not-For-Profit Rental Income". The net is what will show up on the tax return but the numbers will be reported to the IRS so you'll be all good.
@cohenjess
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