I sold a rental prop. on install. I answ. all q. But now at review time, it wants "Property description" for "Schedule E, Page 1, Copy 1, Property C". What is "Prop C"?

Forum|Forum|1 year ago
February 13, 2025
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(A bunch of stuff above is abbreviated, because TurboTax wouldn't let me type enough characters. I hope you understand.)

JamesG1

Under the rental property activity, were there multiple items that were recorded as depreciable assets? Perhaps, a refrigerator, or a new roof, or remodeling improvement?

Where do you find "Prop C"? Is it found on the IRS form 4797 Sale of Business Property or the IRS form 6252 Installment Sale Income? Or somewhere else?

Please clarify.

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Carl11_2

Employee

I suspect you own more than one rental property. The SCH E form allows you to report up to 3 rentals on a single form. Each is designated as Property A, Property B and Property C. On the SCH E form, line 1a is where you provide the physical address of each rental. Line 1b is where you indicate the type of rental property, be it single family residence, multi-family residence, commercial, etc.
If I recall correctly, the TTX program allows you to have up to 5 SCH E forms so you can report up to 15 rentals on your personal tax return.