Property description

[Questionguy101]

Taxpayer rents rooms in a single family house individually to different tenants. So there are more than 1 family living in the house.

In the Schedule E, is the house considered a single family residence or multi-family residence?

[taxea]

I would describe it as room rental in single family home

[Questionguy101]

I would describe it as room rental in single family home

Do you mean you choose "8 Other" and describe it as "room rental in single family home"?

[taxea]

Do you mean you choose "8 Other" and describe it as "room rental in single family home"?

I don't know what you mean by "8 other". I put it on the first line to describe the residence.

[Lion]

Specific choices

The IRS has specific choices this year to make descriptions more uniform. However, if your rental doesn't fit in one of the specific choices, you end up using 8 Other.

[Questionguy101]

I don't know what you mean by "8 other". I put it on the first line to describe the residence.

I am talking about the new requirement in Schedule E this year to describe the rental property. The IRS has 7 types of property listed and the 8th one is 'other'.

[FEDUKE404]

It is a requirement on Schedule E

I don't know what you mean by "8 other". I put it on the first line to describe the residence.

The current Form 1040 Schedule E now has required codes at the top (line 1) for "property type."

For something that does not "fit" a code (subject of this thread) the only remaining choice is "#8 - other" accompanied by a suitable explanation.

One would assume if you have filed any Schedule E rental properties this year, you would already have noted that. Also, most tax software will generate an automatic error message if you fail to select something from the pull-down menu for line 1.

FE