- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Unfortunately, income from Schedule E does not qualify for the home office deduction, as the IRS considers rental property income as passive.
For this reason, there is no Home Office section for Schedule E in TurboTax. If you entered your home office information under the Business tab, you must also report Business Income for Schedule C. In some cases, rental activity does qualify as Schedule C activity (for real estate professionals). In this case, you would be able to take the Home Office Deduction.
To qualify for a home office deduction you must have a trade or business (Schedule C) or a farm/ranch (Schedule F). There is no place on Schedule E for a home office.
‎June 4, 2019
5:09 PM
976 Views