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Level 2
June 1, 2019
Solved

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?

  • June 1, 2019
  • 1 reply
  • 18 views

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?

Best answer by WillK

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. 

1 reply

WillKAnswer
Level 14
June 1, 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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