How do I report Rental Income?

pandaexpressfan_1
pandaexpressfan_1 Member Posts: 37 Level 4
in Income

I'm wondering where I report income for a rental property that I have?

Best Answer

  • Fisc
    Fisc Unconfirmed, Member Posts: 2 Level 2
    Answer ✓
    If you lived on the premises and provided substantial services to the guests, you would report the short-term rental income as business income on Schedule C.

Answers

  • CoryF
    CoryF FreeTaxUSA Agent Posts: 223 image
    Hello pandaexpressfan_1

    It is important to report this as a passive Rental activity located in the Income > Business Income > Rental Income (Schedule E) main path. You will be prompted to add a Rental Activity and will need to answer basic questions regarding the name, dates, and activity level of your rental property. After finishing the basic Rental information, you will see an edit screen to input the Income for the rental property.

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