14-Day Rule - Spidell

14-Day Rule

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Message Board 14-Day Rule

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    • #219775

      Has the IRS given instruction on how to report income from rental of personal property under the 14-day rule? I am trying to put it on line 21 and back it out with the title “14-day rule” but schedule 1 won’t print because there is technically $0 income to report. There is also no other statement that is printing with my software. I am a Lacerte user and wondering if anyone else has come across this issue. It would be nice to not have to spend an hour on hold with Intuit. Thanks!

    • #219784
      William Dewberry

      Personal property rentals go on schedule C, put it in, take it out there.

    • #219788
      William Dewberry

      The 14 day rule I am aware of is in 280A(g) and refers to the rental of a dwelling unit, not personal property.
      So if thats what you are referring to, I’d put it on schedule E.

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