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Reporting rental income on 1120
Mr " X" formed C corp. The nature of business is Real Estate. The corporation buys, sells and rents houses. Currently it has 5 houses and all of them are rented. So the corp has $30000 from rent. My question is where (which line) to report it on 1120? If it is s corp, where (which line) to report the income on 1120s?
Thanks
Hasan Faisal
Sent from Yahoo Mail on Android
Thanks
Hasan Faisal
Sent from Yahoo Mail on Android
posted
January 7, 2019
10:28 PM
last updated
January 07, 2019
10:28 PM
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1 Reply
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Reporting rental income on 1120
Is this a real situation or a hypothetical? You should know which type of corporation it is at this point. If you're using tax preparation software like TurboTax, there should be a section on rental real property that figures out where the reporting goes.
January 8, 2019
9:57 AM
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