Schedule c. Schedule c part 1 line 6 shows an amount i did not enter. Proceed through the interview to set up your rental property. Our only income is from 2 rental properties.
If you need schedule c to report a 1099 misc search for 1099 misc and select the jump to link. Go to tax tools tools topic search type rental in the search box and click go. Can i report my rental income on schedule c instead of schedule e.
If i report it in schedule e it has other consequences as passive investment income. If you have business expenses to report youll need turbotax self employed or turbotax live self employed to file a schedule c or c ez. So you will be prompted to upgrade to turbotax self employed online if you have any expensesthe new turbotax live option will also support both schedule c income and expenses.
Where did that come from. Answer yes to do you want to review your rental and royalty information. Where did that come from.
We cant look it up for you but the principal business codes are listed on pages 16 17. To file schedule c go with turbotax home and business. Line 6 4779 i did not enter this nor do i have a figure of that amount.
Well ask questions to find out if the income needs to go on schedule c or c ez and add the right schedule to your return if needed. Short term rentals are reported on schedule e using the instructions below. Read more about the schedule c here.
Here is the link for the schedule c instructions. Line 5 11259. If you dont have business expenses to write off and need to file a schedule c or c ez you can use turbotax deluxe turbotax live deluxe turbotax premier or turbotax live premier.
Schedule c part i line 6 shows an amount i did not enter. Schedule c ez net profit from business is a simplified version of schedule c that can be used if the taxpayer had only one business sole proprietorship qualified joint venture or statutory employee and the business meets all of the following conditions. Line 1 36259.
Turbotax deluxe options edit ask for details archive. And follow these directions. Line 2 25000.
Turbotax business doesnt handle the 1040 and schedule c forms needed by home based businesses contractors sole proprietors and most single member llcs. I would prefer it to be business income in schedule c.