Question

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?

A

Anonymous_

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.

S

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).

A

Anonymous_

Ok Critter, I didn't see your last response before sending mine. Maybe you are right. If the $ amount in box 1 (Rents) does not automatically mean real property but would also be used to report personal property rental, then maybe that is the best solution.

Either one, @shafer92:

Box 1. Report rents from real estate on Schedule E (Form 1040). However, report rents on Schedule C (Form 1040) if you provided significant services to the tenant, sold real estate as a business, or rented personal property as a business.