Yes, residential rental activities are reported under Rental Properties in Wages & Income and appear on Schedule E as part of your tax return.
The easiest way to
to find Schedule E in TurboTax is to use
the Search box at the top right side of
the TurboTax header. Enter "schedule e", hit Enter, then click
"jump to schedule e". This will take you directly to the start of
this section.
Or go to My Account >> Tools >> Topic Search.
Type in "schedule e", then click the topic in the list.
Please follow the
instructions below for entering income, expenses, and capital assets (building
and improvements):
Look for the blue links "Learn More" for additional help.
Note: If you rent part of
your property, you must divide certain expenses between the part of the
property used for rental purposes and the part of the property used for
personal purposes, as though you actually had two separate pieces of property. (See screenshot below - click to enlarge)
You do not have to
divide the expenses that belong only to the rental part of your property.
You can use any
reasonable method for dividing the expense. The most common methods for
dividing an expense are based on the number of rooms in your home or based on
the square footage of your home.
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