I sublet a parking space that comes w/ my rental unit. On schedule e, it asks if I was the only owner? I am a renter so do not own it. Is this the right form, and how do I answer this? Thx.

hill-regan · ‎June 5, 2019

PaulaM · ‎June 5, 2019

Yes, you are using the correct form to report rental income/expenses.

Answer 'Yes' to the question. For purposes of the the schedule E form, you would be the 'owner' of the space.

What TurboTax is determining is if income/expenses needs to be divide for the rental unit. If you were a co-owner of the unit, then you would only be entering your share of the income/expenses for the parking space.

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I sublet a parking space that comes w/ my rental unit. On schedule e, it asks if I was the only owner? I am a renter so do not own it. Is this the right form, and how do I answer this? Thx.