All Forum Posts by: Steve Horton

Everything file with an online service yesterday, hope it's all correct! Thanks.

Thanks guys. There is no "attempt at fraud", Steven. I'm just asking if Schedule E is the right form, and if it is the only form needed...

Sure, Joe intends on filing the rental income. He is just concerned about the specifics since all he did was move out and collect and continue to make his payment as usual. So the Schedule E is the correct form for him?

Hello,

I'm not an agent or anything, just a regular person with no knowledge of real estate. I'll describe the situation and hope for answers.

Let's say "Joe" moved out of his home for a job in another city. He rented his home out for 11 months. He never contacted his mortgage company about it, and never made it officially a "rental". He just collected the money from the tenants and continued to make his payment as usual, and the money he collected was less than his normal payment, so he made up the difference. The only records of the payments received are from deposits from money orders. Does Joe need to fill out a Schedule E form for tax purposes?

Thanks