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    Hoosier797's Avatar
    Hoosier797 Posts: 3, Reputation: 1
    New Member

    Feb 22, 2011, 06:10 PM
    Why would my schedule E rental income be reported on schedule C by Turbo tax
    Last year when I reported rental income from my condo Turbo Tax listed it on schedule E. This year it is putting it on Schedule C.? Isn't Schedule C for businesses?
    MLSNC's Avatar
    MLSNC Posts: 158, Reputation: 17
    Junior Member

    Feb 22, 2011, 09:07 PM
    Is the condo a vacation rental where the average stay is 7 days or less? If so I do not believe it qualifies as residential rental and therefore is reported on Schedule C. That would be my best guess.
    Hoosier797's Avatar
    Hoosier797 Posts: 3, Reputation: 1
    New Member

    Feb 23, 2011, 04:30 AM
    Comment on MLSNC's post
    I took another job in a city about 100 miles away and stay there less than 7 days a year. He has full use of condo, except for master bed/bath.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man

    Feb 23, 2011, 04:41 AM

    But since the condo is not your primary residence, you are running a business by renting it out. This is actually to your advantage as you can claim the costs of doing business on the Schedule C to offset the income.

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