If, after entering all income data, can I delete the form Schedule E and have TurboTax recreate it from the worksheets to add a second location? I entered two 1099-misc; one for rental with one property location and one for royalties on another. There are two Schedule E WKSheets and one "Schedule E,p1(Schedule E,copy 1)" which lists both rental and royalty data but only one of properties. My 2023 return also had only one property name and may be the origin of the schedule data.
You'll need to sign in or create an account to connect with an expert.
No, don't delete Schedule E. Since you have both rental property and royalty income for the same address, you should have two Schedule E worksheets. However, they will be combined on Schedule E unless you have different property descriptions.
If you're using TurboTax for Desktop:
In TurboTax Online, you will need to revisit the Rental/Royalty section and edit the property description for your two properties.
If you've paid for your TurboTax Online return, you can save a PDF with all forms and review Schedule E to confirm the properties are reported separately. See: Can I print a copy of my return in TurboTax Online before I file it?
My final word. I started over from scratch to prove that Windows TTax absolutely does the following for multiple rental and royalty properties.
It properly creates multiple worksheets for different addresses.
It properly transcribes the income and expenses for different properties to separate columns (A,B,C) on one Schedule E.
It properly transcribes the type of property (rental, royalty, etc.) to Schedule E, Part I, 1b.
It does NOT transcribe to Part I, 1a the address from the second (and presumably third) Schedule E worksheet. The delivery to the IRS with a blank address for columns B and C may appear at a glance to belong to the same property and TTax my consider it one property further on.
Postscript: Since Only a partial address is transcribed to Schedule E, (no city or state, which are separate fields on the worksheet) the address is uselessly ambiguous. It would be more helpful in my case to use the description (e.g. mineral rights; land lease) rather than try to remember which address goes with the income stream. At one time I think I encountered a prompt in 1099 form to associate one of the addresses, but wasn't able to replicate that.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
grandpaknei
Level 3
cliffoehme2
Level 1
abh1
New Member
grandpaknei
Level 3
maukro
Level 3