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Rental type codes

Enter the code for the real estate or royalty property on the Rent screen in the Rent & Royalty folder. Schedule # requires this field.
Code
Description
Results
1
Single family residence
Completes Schedule E, line 1a and line 2.
2
Multi-family residence
Completes Schedule E, line 1a and line 2.
3
Vacation/Short-term
Completes Schedule E, line 1a. Line 2a completes from the information on the Rent-2 screen.
4
Commercial
Completes Schedule E, line 1a and line 2.
5
Land
Completes Schedule E, line 1a and line 2. Property is treated as subject to the net income recharacterization of passive income rules.
7
Self-rental
Completes Schedule E, line 1a and line 2. Property is treated as subject to the net income recharacterization of passive income rules.
8
Other
Completes Schedule E, line 1a and line 2.
9
Nonbusiness Personal Property
Form 1040, Schedule 1, line 8 and line 36
The
Subject to recharacterization rules
 automatically include Code 5 - Land and Code 7 - Self-rental properties. These rules also treat rental income as nonpassive. Refer to IRS Publication 925 for the rules that apply to recharacterization for substantially nondepreciable property (Land) or properties rented to activities with material participation (Self-rental).
Code 9 - Nonbusiness personal property needs to meet the requirements for Form 1040, Schedule 1, line 8. Report income on Form 1040, Schedule 1, line 8, Report expenses on Form 1040, line 36.
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