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Level 4
January 21, 2021
Question

RENTAL PROPERTY

  • January 21, 2021
  • 12 replies
  • 28 views

I HAVE A QUICK QUESTION. What forms do i need to fill in proseries  if a person collect rents from property and does not work at all that is his only income thanks 

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12 replies

IRonMaN
Level 15
January 21, 2021

Big Bird says today is brought to you by schedule E.

Slava Ukraini!
Level 4
January 22, 2021

IM SORRY I DIDNT GET YOUR RESPONSE 

IRonMaN
Level 15
January 22, 2021
George4Tacks
Level 15
January 22, 2021

What type of property? Construction equipment? Vehicles? ....

Answers are easy. Questions are hard!
Level 4
January 22, 2021

its the insured personal home where he rents the bottom portion for rent no other income insured gets just that 

ShoeBox Taxes
Level 5
January 22, 2021

Yes, Schedule E, and of course also 1040, and Schedule 1, and any state returns necessary. But your Schedule E is what you're looking for.

Just-Lisa-Now-
Intuit Community Champion
January 22, 2021

@conveniencebrokerage  are you a tax professional?  

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 4
January 22, 2021

yes i am 

 

IRonMaN
Level 15
January 22, 2021