My wife and I received rental from several S-Corp - K-1 that we own 100%. Do I have to fill Schedule -E ? If I fill Scedule E it does duplicate income?

boidi1923 · ‎May 31, 2019

My wife and I received rental from several S-Corp - K-1 that we own 100%. Do I have to fill Schedule -E? If I fill Schedule E it does duplicate income?

WillK · ‎May 31, 2019

If the rentals are all under the S-Corporations, and you receive a Schedule K-1, you do not need to fill out Schedule E. The income and expenses from the rentals will be on the K-1, which you will report on your personal return. If any of the rentals are not under the S-Corporations, then you do need to file out Schedule E for those. The program will be able to help your enter those,along with the K-1s.

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WillK · ‎May 31, 2019

If the rentals are all under the S-Corporations, and you receive a Schedule K-1, you do not need to fill out Schedule E. The income and expenses from the rentals will be on the K-1, which you will report on your personal return. If any of the rentals are not under the S-Corporations, then you do need to file out Schedule E for those. The program will be able to help your enter those,along with the K-1s.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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My wife and I received rental from several S-Corp - K-1 that we own 100%. Do I have to fill Schedule -E ? If I fill Scedule E it does duplicate income?