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Updated almost 6 years ago,
Help Please! With new 2018 tax rules for rental real estate!
Hello! Help please! I am trying to answer a simple tax question. When I completed schedule E and wanted to enter the profit I received from the rental houses on form 1040, the 2018 instructions say put it on line 17, which is totally wrong on the new 2018 1040. It must enter somewhere else, but it remains utterly confusing to me. It has to be included as part of one's taxable income, but where? What line? If an additional form is necessary what is it?
The new 2018 tax changes are very unclear!! This is very distressing, and I do not have time to go through turbotax or HR Block's tax forms, but I still do these by hand, without an accountant.
So many thanks if any kind rental property owner could give me advice! Matthew