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To enter or review the information for Form 1099-MISC Miscellaneous Income, Box 1 Rents:

If you have not already entered the applicable Schedule E (Form 1040) Supplemental Income and Loss information:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Rent or Royalty Income to expand, then click Real estate rental income.
  3. Click + Add Schedule E, Pg 1 to create a new copy of the form or click Edit to review a form already created.
  4. Continue with the interview process to enter all of the appropriate information.
  5. On the screen titled Rental Income – Income, click Yes.
  6. On the screen titled Rental Income - Form 1099-MISC, click Yes to indicate that you received a Form 1099-MISC.
  7. Click + Add Form 1099-MISC to create a new Form 1099-MISC, then continue until you reach screen titled 1099-MISC: Enter information on form.
  8. Click the Switch to Form Entry (optional) link near the top to open the Quick Entry window, enter all of the applicable information from your Form 1099-MISC, then click Save & Close.
  9. Select the "Schedule E" option applicable to assign the Form 1099-MISC you are currently completing from the Assigned schedule or form drop-down, then click Continue.

If you have already entered the applicable Schedule E information:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Form 1099-MISC, then click + Add Form 1099-MISC to create a new copy of the form, then continue until you reach the screen titled 1099-MISC: Enter information on form.
  3. Click the Switch to Form Entry (optional) link near the top to open the Quick Entry window, enter all of the applicable information from your Form 1099-MISC, then click Save & Close.
  4. Select the "Schedule E" option applicable to assign the Form 1099-MISC you are currently completing from the Assigned schedule or form drop-down, then click Continue.

Note. Form 4835 Farm Rental Income and Expenses - If you were the landowner (or sub-lessor) and did not materially participate (for self-employment tax purposes) in the operation or management of the farm, use Form 4835 to report farm rental income based on crops or livestock produced by the tenant. See Chapter 12 in IRS Publication 225 Farmer's Tax Guide for the definition of material participation for landlords. Use this form only if the activity was a rental activity for the purposes of the passive activity loss limitations. See Form 8582 Instructions Passive Activity Loss Limitations for the definition of rental activity.

Schedule C (Form 1040) Profit or Loss From Business - If you provided significant services to the tenant, sold real estate as a business, rented personal property as a business, or you and your spouse elected to be treated as a qualified joint venture, report on Schedule C.

Schedule E (Form 1040) Supplemental Income and Loss - Report rents from real estate on Schedule E. See IRS Publication 527 Residential Rental Property for additional information.

If you also have federal and/or state tax withholding reported, see Form 1099-MISC - Federal or State Withholding.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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