Vanessa A
Expert Alumni

Investors & landlords

You cannot deduct expenses without having it counted as rental income. If you just want to report the income, you would take the following steps:

 

  • Federal
  • Income and Expenses
  • Scroll down to Less Common Income and click Show More
  • Start next to Miscellaneous Income
  • Start next to Other Reportable Income

This will put it on line 8z of your schedule 1 as other income.  If you want to deduct expenses, you would need to count it as rental income which if it actually was rental income (you were renting out a part of your house and not just a roommate type situation) then although it's more complicated, Schedule E would be the proper way to go. 

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