I’ve been told our rental properties qualify for the new pass-through credit but to still list them on Sched E (not Sched C thus subject to SE taxes). Can T-tax handle?

We are actively involved in maintaining the houses and farmland we rent. We use TurboTax Home and Business.

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1 Best answer

Intuit Alumni

Jun 3, 2019 11:47:42 AM

Yes, TurboTax can handle the new pass-through credits.

There is no change in how you report your rental properties you will continue to list your rental properties on Schedule E.

Intuit Alumni

Jun 3, 2019 11:47:42 AM

Yes, TurboTax can handle the new pass-through credits.

There is no change in how you report your rental properties you will continue to list your rental properties on Schedule E.

Level 2

Jun 3, 2019 11:47:43 AM

Thanks. I just noticed that when I input the 1099 Misc info, it asks if it’s “income for business rental (Sched. C)”, or “rental real estate (Sched. E”. I was concerned it will only calculate the credit if I designate on Sched C, but I’m sure I’ll see that it still will give me the credit as Sched. E rental property.

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I’ve been told our rental properties qualify for the new pass-through credit but to still list them on Sched E (not Sched C thus subject to SE taxes). Can T-tax handle?