Entering Income from a Rental or Royalty Property

Income from property that you rent out and from royalty property (such as oil and gas wells) is reported on Schedule E for your income tax return.

You'll need your income statements (such as Form 1099-MISC or Schedule K-1), expense reports, and any other information related to your property before you enter this information into TurboTax.

Rental Property and Royalty Income information is entered in the same area of TurboTax.

Here's how to get to the Rental/Royalty screens in TurboTax Online:

1. Select the Tools button in the upper right-hand portion of the screen. 
2. Select Topic Search. 
3. When the window opens, type "rental property" into the box, select the Rental Property item, and then select GO. 
4. Follow the on-screen instructions to enter the information for your Rental or Royalty items.

Here's how to get to the Rental/Royalty screens in TurboTax desktop or CD/download version:

1. Enter your cursor into the search box in the upper right-hand portion of the screen. 
2. Type "rental property" into the box, select the Rental Property item. 
3. Follow the on-screen instructions to enter the information for your Rental or Royalty items.
    

Note: If the property is located in a U.S. Territory or Protectorate, enter the city and territory in the City field when you get to the "Enter Property Information" screen (for example San Juan, Puerto Rico). Leave the State and ZIP Code fields blank.