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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Schedule E vs 1065 for short-term rental with mother
Schedule E vs 1065 for short-term rental with mother
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lesleyg
Level 1
04-15-2024
01:11 AM
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Can a mother and daughter that own a short-term rental together (50/50) both file schedule E with net profit split in half on each return, or do they need to file 1065?
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Brainstrom
Level 4
04-15-2024
12:28 PM
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When you apply for an EIN with the IRS, the letter that is sent to you will show you how to file. If your client has not applied for an EIN for the rental, yes you can split the income and expense and file on Schedule E
