A taxpayer may receive Form 1099-MISC or Form 1099-K reporting income or transactions related to their rental or royalty income. You will be able to enter information for those income forms during the Schedule E interview process.

You can enter Qualified Business Income (QBI) for a rental property when entering the details about that rental property. To enter or review information for Schedule E (Form 1040) in TaxAct Professional Editions, follow the steps below:

1. From within the client return, click Federal.
2. Click the Rent or Royalty Income drop-down, then click Real estate rental income or Royalties. 
3. Click Add beside Schedule E.
4. Continue with the interview process to enter your information.

Related Links

• Individuals – Schedule E – Entering Rental Property in Program
• IRS Qualified Business Income Deduction
• Qualified Business Income Deduction – General Information
• Qualified Business Income Deduction – Pass-Through Partnership Income
• Qualified Business Income Deduction – Pass-Through S Corporation Income
• Qualified Business Income Deduction – Sole Proprietor Income
• Qualified Business Income Deduction – View Entries