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Schedule C or E if income is from property management of other people's properties.

1. Can I file as a schedule E?

 

2. Whether I choose to file as a Schedule C or E, can do I need to file each property in their respective states? Or can I clump them all together under the state I'm living in?

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1 Reply
SharonD007
Expert Alumni

Schedule C or E if income is from property management of other people's properties.

No, you won't report your property management income on Schedule E since the property isn't your own.  Refer to the TurboTax article What Is a Schedule E IRS Form?

 

If you are an independent contractor working as a property manager, you will report your income on ‌Schedule C of your tax return. The IRS considers self-employment income as a business, so you will also be able to deduct common business expenses from your income. To enter you business and self-employment income, follow the steps below:

 

  1. Open TurboTax
  2. Select Wages & Income
  3. Select Self-Employment Income and Expenses
  4. TurboTax will guide you through the interview screens to help you enter your income.

Review the TurboTax articles Reporting Self-Employment Business Income and Deductions and Property Management Tax Deductions for more information on business deductions.  For additional information, review What self-employed expenses can I deduct? and How do I report income from self-employment? 

 

You will enter all of your income and expenses on your Schedule C of your federal tax return, but you may have to file state tax return(s)  for your property management income that was made in each state. You can visit each state’s Department of Revenue to find out their filing requirements.  ‌ Review the TurboTax article How do I contact my state's Department of Revenue? for more information.

 

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