Question

Income and expense form a rental home

Forum|Forum|6 years ago
February 16, 2020
2 replies
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Rental Income form a single home

Employee

@JWE1 wrote:

Rental Income form a single home

You report the income from a rental in the Rental Properties and Royalties section of the program.

Did you have some other question concerning rental income?

I entered our rental income and expenses.
It seems to be showing up in both the total of 1040 box 7a and 15. So is it being double counted

No.

Line 7a pulls in the total of your net rental income (rental income less rental expenses) from Schedule 1.

Line 15 is actually the amount of your other taxes due from things like self-employment income or additional taxes on IRAs, for example. This amount pulls in from Schedule 2. See the blank sample of the Schedule 2 form below to determine what tax is being generated on your return.

Blank Schedule 2

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