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my 2023 1040was prepared by Turbo tax , I am managing my rental properties my self , I charged management fee schedule E , why did not charged income in schedule C

should the amount I charged in schedule E be consider as an Income ?
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1 Reply
RobertB4444
Employee Tax Expert

my 2023 1040was prepared by Turbo tax , I am managing my rental properties my self , I charged management fee schedule E , why did not charged income in schedule C

Yes, the income that you receive on schedule E is taxable income.  Any rental income that is more than the expenses you will pay regular income tax on.

 

If you are doing short term rentals that average less than 7 days per stay then all of your rental income should be entered on schedule C and you should be treating all of your rentals as a business.  Then all of the expenses and income can be entered on schedule C.

 

Here is a good thread on the subject.

 

@mparvinjah 

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