STEPS:
Click “BEGIN” next to Schedule E – This opens the form to start entering rental property details.
Click “Continue” – Proceeds to the main data entry section.
Select property type or income type – Choose whether you’re reporting residential rental, vacation home, royalties, etc.
Enter address or payer’s name – Input the rental property’s address or the name of the royalty payer, depending on what’s being reported.
5-6. Enter property’s address and ZIP code – Provide full location details of the rental property.
7. Enter rental payments received – Input the total rent collected during the year.
8. Input rental and personal use days – Record how many days the property was rented and how many it was used personally.
9. Click “CONTINUE” – Once you've selected all relevant checkboxes for the property’s use and reporting.
10. Start depreciation section – Click “BEGIN” under Depreciation to claim depreciation on the property.
11. Add rental property asset info – Enter asset details under “Assets,” answer follow-up questions, and click “Continue.”
12. Enter rental expenses – Begin entering operating and maintenance expenses.
13. Select categories for each expense – Categorize each cost accurately (e.g., repairs, utilities).
14. Click “Continue” – Finalize the entry.
