Do i have to file a schedule e if I rent below fair market value and don't have any losses to report

[mccutct]

I rent a second house below Fair Market Value, so I have no rental income to claim.  I also have no rental costs or losses to claim, on the rental property.  Do I still need to file a Schedule E?

[JulieR · Accepted solution]

No, you won't need to file a Schedule E if you rented the house at below Fair Market Value and had no offsetting expenses, but if you did, in fact, collect rent, you still will need to report the income as "other income" on Schedule 1 of your return.