Schedule E less than 14 days

Forum|Forum|2 years ago
March 9, 2024
1 reply
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Hello,

I rented my personal home (I lived in .362 days), but rented to a business for 13 days in 2023. The business issued me a 1099-MISC for the rental income. I have entered the 1099-MISC in TurboTax as rental income and it created a Schedule E for me. Since this is a rental of my personal home for less than 15 days, the IRS pub 527 says not to report the income and to not complete a Schedule E. However, I feel I must report the 1099-MISC income. Most advice I have seen in similar situations it to complete the Schedule E, but to back out the income with a statement such as "AUGUSTA EXEMPTION 280A(G)". TurboTax though will not let me enter the "days rented at fair rental value" as 13 and "days of personal use" as 362. Either the days rented needs to be greater than 15 or the personal use needs to be less than the days rented. How do I correct this error?

Anonymous_

Employee

You could enter it as miscellaneous income and then make an immediate offsetting entry for the same amount (negative entry). Use the minus sign for the latter.

shafer92Author

Yes, I can negate the income to $0, but it forces me to state the rental days are >15 or if I keep the rental days at 13 (which is actual), then my personal days must be less than that amount (which is not true).

Critter-3

Remove the Sch E that you are working on completely then enter the income another way ... do NOT enter it in the 1099-misc section ... that is only taking you down a black hole.

Down the left side of the screen, click Federal.
In the center of the screen, click Income & expenses.
On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
Click the Start or Update button for the last topic, Miscellaneous Income, 1099-A, 1099-C.
On the next screen, Let's Work on Any Miscellaneous Income, scroll down and click the Start or Update button for the topic: Income from renting out personal property.
Enter the rent received in both boxes for both the income and expenses ... this will put the income on line 8l and the expenses on line 24b on the Sch 1.
On the next screen click Done.