topic If I am not self employed, and I just rent a detached 2-car garage to a neighbor for his construction company, what kind of income is this? in Investors & landlords

If I am not self employed, and I just rent a detached 2-car garage to a neighbor for his construction company, what kind of income is this?

lizzinharmony — Thu, 06 Jun 2019 15:09:48 GMT

The cost to rent the garage was $300/month for 6 months in 2017. I filled out a W-9, but have not receive a 1099. I rent the house on this property. The home owners I rent from allow me to rent the garage. The home owners do not receive any benefits or any of the income from the rental of the garage. I use the income to help me pay my bills.

It's rental income (not self-employment income). Report o...

PaulaM — Thu, 06 Jun 2019 15:09:50 GMT

It's rental income (not self-employment income). Report on schedule E the income and any expenses that you may have had.

You will need TurboTax Premier for the Schedule E. You don't have to own the property or receive a 1099-MISC to have rental income.

https://turbotax.intuit.com/personal-taxes/online/

Wow that was quick Thank you!

lizzinharmony — Thu, 06 Jun 2019 15:09:52 GMT

Wow that was quick Thank you!

You are welcome! :)

PaulaM — Thu, 06 Jun 2019 15:09:55 GMT

You are welcome! 🙂