HopeS
Expert Alumni

Investors & landlords

No, your rental income should be entered on Schedule E instead of in Less Common Income

 

If your rental property is located out-of-state, make sure you first set up that state properly in Personal Info. That way, when you do your state taxes, we'll be ready to go.

To enter your rental:

  1. Open or continue your return, if you haven’t already
  2. Locate the Search bar in the upper right of your screen. Search for rentals and select the Jump to link at the top of the search results
  3. Answer Yes to the question Did you have any income from rentals or royalties?
  4. On the next screen, Let's see if you're a real estate professional, select any options that apply to you.
  5. On the screen What are you here to report?, select Rental property and Continue
    • If you have more than one rental property to report, no problem—just start with one, and we’ll come back to the other one(s) later

 

Review the additional guidance provided below:

 

Where to Enter Income and Expenses for Rental Property

 

How to Claim Income from Renting a Room

 

@jamessciortino1 

 

 

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