Use the Rents and Royalties section to report income received from:
- Renting out property (e.g., residential, commercial, land)
- Receiving royalties from copyrights, patents, oil, gas, or mineral rights
How Income Is Reported:
- Rental income is typically reported on Form 1099-MISC, Box 1, or may be paid directly to you without a form.
- Royalty income is usually reported on Form 1099-MISC, Box 2.
Important:
Only report personal or investment property here.
If the property was used in a business, report the sale or income on Form 4797, not Schedule E.
How to Enter in the Program
To enter rental or royalty income:
- Go to the Federal section.
- Select Income, then choose “Profit or Loss from Rentals and Royalties” under “Select My Forms.”
- This will open Schedule E.
If you're unsure how to proceed, use the “Guide Me” feature within the Schedule E section for step-by-step help.