Question

Schedule 1 Line 5

Forum|Forum|4 years ago
April 16, 2022
1 reply
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Last year my CPA, put my rental losses in "Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E" in 1040 Schedule 1. This year, I am doing my taxes and wanted to do the same. How do I fill this ? I have already added my rental info which shows a loss but it isn't affecting the Schedule 1

TurboTax Self Employed Online

ColeenD3

Is your rental in a partnership or S corporation?

If not, enter your information in Schedule E, found in the Premier program.

To enter your rental:

In TurboTax, search for rentals and select the Jump to link at the top of the search results.
Answer Yes to the question Did you have any rental or royalty income and expenses in 2021 for property you own?
Follow the on-screen instructions as you proceed through the rental and royalties section.
- We'll ask you to enter general information about your rental (like description, address, and ownership percentage).
- Eventually, you'll come to the Rental Summary screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.