Business & Rentals

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Rental income (Schedule E)
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro Menu Path: Income > Business Income > Rental Income (Schedule E) What if I have rental income? If you have rental income from real estate such as a single-family home, apartment complex, vacation home, or any other type of real estate that you own, enter your rental…
I have a 1099-NEC with nonemployee compensation, but I don't have a business. Why do I need a Schedule C?
Contributed by: TriciaD, FreeTaxUSA Agent Nonemployee compensation on a 1099-NEC is self-employment income and usually needs to be reported on Schedule C (or Schedule F if it is farm income) even if you are just doing a little bit of work on the side and do not have an official business. The IRS considers any income…