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Rents from Personal Property - Nonbusiness Income and Expenses
1
To report rental income from personal property in the TaxAct program, follow the steps below. 
Online
Dashboard
  1. From within your TaxAct return, click Income. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Explore More drop-down.
  3. Click Add beside Other Income.
  4. Click Continue, then enter the amount in Income from personal property rental.
  5. Complete the rest of the interview process. 
Classic
  1. From within your TaxAct return, click Federal. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Other Income drop-down, then click Rental income from personal property.
  3. Complete the rest of the interview process. 
Desktop
  1. From within your TaxAct return, click Federal. 
  2. Click the Other Income drop-down, then click Rental income from personal property.
  3. Complete the rest of the interview process. 
 
To report expenses for personal property rental in the TaxAct program, follow the steps below. 
Online
Dashboard
  1. From within your TaxAct return, click Resources. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Under My Return, click Federal Search. 
  3. Click the Other Adjustments drop-down, then click Other adjustments.
  4. Enter the relevant amount in the Expenses for personal property rental field.
  5. Complete the rest of the interview process. 
Classic
  1. From within your TaxAct return, click Federal. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Other Adjustments drop-down, then click Other adjustments.
  3. Enter the relevant amount in the Expenses for personal property rental field.
  4. Complete the rest of the interview process. 
Desktop
  1. From within your TaxAct return, click Federal. 
  2. Click the Other Adjustments drop-down, then click Other adjustments.
  3. Enter the relevant amount in the Expenses for personal property rental field.
  4. Complete the rest of the interview process. 
See IRS Publication 525 for more information.