- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 4, 2022
9:22 AM