ETax847 Posted February 18, 2013 Report Share Posted February 18, 2013 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? Quote Link to comment Share on other sites More sharing options...
Ray in Ohio Posted February 18, 2013 Report Share Posted February 18, 2013 Enter the income on the "Other Income" tab at the bottom of Schedule E. Fifth tab to the right. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 18, 2013 Report Share Posted February 18, 2013 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. Quote Link to comment Share on other sites More sharing options...
ETax847 Posted February 18, 2013 Author Report Share Posted February 18, 2013 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? Quote Link to comment Share on other sites More sharing options...
gfizer Posted February 18, 2013 Report Share Posted February 18, 2013 You should be able to file returns with depreciation now provided your program is updated to at least version 12.9 Quote Link to comment Share on other sites More sharing options...
ETax847 Posted February 18, 2013 Author Report Share Posted February 18, 2013 When it comes to ATX, nothing happens as it should Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted February 18, 2013 Report Share Posted February 18, 2013 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? Quote Link to comment Share on other sites More sharing options...
Ray in Ohio Posted February 18, 2013 Report Share Posted February 18, 2013 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". Quote Link to comment Share on other sites More sharing options...
ETax847 Posted February 18, 2013 Author Report Share Posted February 18, 2013 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? Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted February 18, 2013 Report Share Posted February 18, 2013 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? Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 18, 2013 Report Share Posted February 18, 2013 I just put total rents received by "Tenants" on my own return, no names. Quote Link to comment Share on other sites More sharing options...
Ray in Ohio Posted February 18, 2013 Report Share Posted February 18, 2013 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) Quote Link to comment Share on other sites More sharing options...
grandmabee Posted February 18, 2013 Report Share Posted February 18, 2013 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. Quote Link to comment Share on other sites More sharing options...
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