Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Rental property purchased under a business that files a Schedule C. Does this get put on a Sch E or Sch C

PJC
Level 1

Client started a business for property investing.  After taking expenses on past tax returns, she now purchased a rental home she found.  The 1099misc for rental income has the businesses name but her social security number on it.  Not sure whether to put this on a Schedule C or an E.

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

2 Comments 2
sjrcpa
Level 15

Rental income goes on Sch E.

The more I know, the more I don't know.
0 Cheers
qbteachmt
Level 15

"The 1099misc for rental income"

The Services she provides would be the Sched C, but the property is personal investment. Realize the Sched C is a disregarded entity, so there is not really a "business" for investing. There is only a business if she provides Services for the property, such as running a B&B.

*******************************
Don't yell at us; we're volunteers
0 Cheers