RENTAL PROPERTY

[conveniencebrokerage]

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 

[IRonMaN]

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

[conveniencebrokerage]

IM SORRY I DIDNT GET YOUR RESPONSE 

[IRonMaN]

Start here:

2020 Instructions for Schedule E (irs.gov)

[George4Tacks]

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

[conveniencebrokerage]

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

[ShoeBox Taxes]

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-]

@conveniencebrokerage  are you a tax professional?  

[conveniencebrokerage]

yes i am 

[conveniencebrokerage]

what i don't understand when i put his schedule e and put the expenses the person get 0 tax due not getting any money back is that normal or am i missing anything  thanks 

[George4Tacks]

@conveniencebrokerage are you a tax professional? 

[Just-Lisa-Now-]

Why would they get money back? 

Your post is quite concerning if you hold yourself out to be a tax professional. 

Are you a new preparer?

[IRonMaN]

Please stick to one post.

Filing a return for a individual with rental prope... - Intuit Accountants Community