Question

I have a question about reporting rental property income and paying tax on rental income. I do not use a management company to manage the property I rent to tenants — I manage my own rental property myself so I do not receive a 1099. Since I don’t receive 1099 Forms, I’m confused about where I am supposed to enter the income that I earn from my rental property. Is there another process by which I can account for my rental income when I file my taxes with the IRS — Where do I enter the income that I earn from these properties?

Answer

Rental income is any payment you receive for the use or occupation of property that you own. You are responsible for reporting rental property income for all of your properties. Regarding paying tax on rental income, if you own and choose to rent buildings, rooms or apartments, you generally report your rental income and expenses on Form 1040, Schedule E. If you have more than three rental properties, complete and attach as many Schedules E as are needed to list the properties you own and rent. This is true even if you manage the rental properties yourself rather than using a management company and didn’t receive a Form 1099-MISC.

Related Topics

Related Resources

If we sell a rental property that has had a big rental property value drop, can we deduct any of the loss?

Learn how to report your rental property value drop with help from the tax experts at H&R Block.

I have a tax question about catch-up depreciation. I have owned a rental property for 10 years but have never claimed de

If you have owned a rental property for many years but have never claimed depreciation, can you catch up and claim it now? Learn more from the tax exp

I have a question about real estate cost basis. How do I determine real estate basis of real property with improvements?

Learn how to determine the basis of real property with improvements with help from the tax experts at H&R Block.

I have a question about reporting short sale on taxes. I sold my home in a short sale in 2017 for thousands o

Learn more about reporting a short sale on your taxes with advice from the tax experts at H&R Block.