<p>I have rental real estate. Should this be listed in both PA 180 (other real estate parents own) and in BA (business filing on Sche E) ? Or, should I remove it from PA 180 and only list it under the business section?</p>
<p>Thanks for your help.</p>
<p>I probably did it incorrectly on Profile, we do not have the rentals set up as an LLC or a “business” so I used the equity value as the asset, the rental receipts as income and put N/As in the questions that pertained specifically to a business that I didn’t feel applied to us. We fill out a 1040A and the rental income and outgo is on Schedule E and it’s pretty straightforward…I don’t depreciate cars against the apartments or our time or space in out our house or much outside of the normal out of pocket costs, so I treated them the same as I did on the FAFSA. Whatever they did with the info after that I have no idea but I tend not to get myself in a knot with stuff like this…</p>