Rental Income

[Naafei]

I receive rental income. Previous years I put this income as a schedule with my personal taxes. How do I go about putting this income separate under my business and separating the two?

[NancyM5]

Rental property income and expenses are reported on Schedule E - Supplemental Income and Loss.   That's probably where you've reporting your rental income in other years. You can separate the properties you own on this schedule by using the columns provided and if you have more than 3 rental properties you would add a second Schedule E to your return.

If you own this property with another party, then you would need to file Form 1065 - U.S. Return of Partnership Income.  The partnership would provide you with a Schedule K-1 and you would enter that information in Part II - Income or Loss From Partnerships and S Corporations on the second page of Schedule E.