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bruce.synteko
March 20, 2023
Question

Can business income and rental income be combined to take my Business income and expenses? Or should I separate and do Rental/royalty income and expenses?

  • March 20, 2023
  • 1 reply
  • 0 views
I rent out a portion of my home and include the rental with my business income. Whats the best way to handle it

1 reply

M
MinhT1
March 20, 2023

You cannot mix business income and rental income.

 

Business income is reported on Schedule C.

 

Rental income income is reported on Schedule E.

 

Please read this TurboTax Help article on how to report your rental income and expenses.

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