{"id":20304,"date":"2017-06-14T12:00:00","date_gmt":"2017-06-14T12:00:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/"},"modified":"2021-07-08T13:54:01","modified_gmt":"2021-07-08T18:54:01","slug":"reporting-rental-property-income","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/income\/real-estate\/reporting-rental-property-income\/","title":{"rendered":"Reporting Rental Income on Your Tax Return"},"content":{"rendered":"<p>Whether you\u2019re renting one home or many, we\u2019ve outlined what you should know about reporting rental income on your tax return. First, let\u2019s define what counts as rental income. Essentially, it\u2019s any payment you receive for the use or occupation of property that you own. You\u2019re responsible for reporting rental property income on your tax return for all your properties.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p>If you own and rent buildings, rooms or apartments, you&#8217;ll generally report your rental income and expenses on <a href=\"https:\/\/www.hrblock.com\/tax-center\/irs\/forms\/form-1040\/\">Form 1040<\/a>, Schedule E. If you have more than three rental properties, complete and attach as many Schedules E as you need to list the properties you own and rent.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p>What if you\u2019ve used a management company for your rental property? If you hired a property management company to manage your rental, that company collects rent and sends it to you. At the end of the year, they&#8217;ll send you a <a href=\"https:\/\/www.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-1099-misc\/\">Form 1099-MISC<\/a> showing how much rent you received.<span class=\"Apple-converted-space\">&nbsp; <\/span>You\u2019ll include the Form 1099-MISC and your Schedule E forms to complete your rental income tax reporting.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<h2>Rental Income Tax Reporting: Details You\u2019ll Want to Know<\/h2>\n<p>As you might imagine, you\u2019ll need to track several details for your rental income tax reporting. Here&#8217;s a quick primer on the info you need to complete your return. If you\u2019re using <a href=\"https:\/\/www.hrblock.com\/online-tax-filing\/\">H&amp;R Block Online tax filing program<\/a> or <a href=\"https:\/\/www.hrblock.com\/tax-software\/\">H&amp;R Block Software<\/a>, we\u2019ll ask relevant questions so you can enter this information.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p>You\u2019ll need to know:<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<ul>\n<li>General property information, such as the address and if you\u2019ve rented the home before<\/li>\n<li>How many days you owned the house and how many days it was rented or available for rent<\/li>\n<li>If there was personal use of the house after you made it available for rent<\/li>\n<li>The total amount of your rental income, including income shown on your 1099-MISC<\/li>\n<li>Any expenses related to the home rental. Our programs will help you with a type of expense called depreciation, which allows you to spread the cost of an asset across a number of years. <span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<\/ul>\n<p>You might also be eligible for certain deductions, such as the <a href=\"https:\/\/www.hrblock.com\/tax-center\/filing\/adjustments-and-deductions\/home-mortgage-interest-deduction\/\">mortgage interest deduction<\/a>. Additionally, if you travel to check on the house, or you go there to collect the rent, you might be able to deduct vehicle expenses.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re renting one home or many, we\u2019ve outlined what you should know about reporting rental income on your tax return. First, let\u2019s define what counts as rental income. Essentially, it\u2019s any payment you receive for the use or occupation of property that you own. You\u2019re responsible for reporting rental property income on your tax [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24,49],"tags":[],"class_list":["post-20304","post","type-post","status-publish","format-standard","hentry","category-income","category-real-estate"],"acf":[],"yoast_head":"<title>Reporting Rental Income on Tax Return | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Renting property comes with extra tax reporting. 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