Sch E - Rents received

[ETax847]

Why is there no input form for Rents Received on the Sch E? I have to override the field to enter the rent. Any thoughts?

[Ray in Ohio]

Enter the income on the "Other Income" tab at the bottom of Schedule E. Fifth tab to the right.

[Margaret CPA in OH]

I noticed that on my own and wonder what to do with a client that also has interest income and laundry income with their rental property. I have put those as other but it seems now it will all be rent.

[ETax847]

When filling in the 5th tab on the right, it populates "other income" on the Sch E, not "rents received". Also does anyone know when we can file returns with depreciation?

[gfizer]

You should be able to file returns with depreciation now provided your program is updated to at least version 12.9

[ETax847]

When it comes to ATX, nothing happens as it should

[Chowdahead]

I was going to post regarding this as well. It states that we must enter "Payer Name" for "Other Income", which is linked from the "Rents Received" field.

Does this mean we must enter the name of each tenant?

[Ray in Ohio]

When filling in the 5th tab on the right, it populates "other income" on the Sch E, not "rents received". Also does anyone know when we can file returns with depreciation?

But the "other income" then goes on line 1 of Schedule E which is the rents received line. If you click on the Form tab you are able to see this. On the input tab it says: "Other income received not reported on 1099 MISC".

[ETax847]

Thanks Ray In Ohio! You were correct, any idea if I should be able to efile this type of return, or if the IRS isnt accepting returns with depreciation schedules? I have downloaded 12.9, but still cannot create the efile?

[Chowdahead]

But do we have to enter a specific name for the Payer? Or can we simply enter a term like Tenant 1 or Tenant 2?

[Margaret CPA in OH]

I just put total rents received by "Tenants" on my own return, no names.

[Ray in Ohio]

I also enter a generic item such as "rent" and it accepts it. I have efiled several with Schedule E etc with 4562 and have had no problems. Both ATX and the IRS are apparently ready for these types of returns. If you are unable to file these than you apparently do not have the latest form update or the latest program update. (12.9)

[grandmabee]

if your property is managed then they send you the 1099-misc with rents showing. I imput the 1099 and then add additional rent received. ex: section 8 housing they pay part and gov. pays part.