Page 99 - Other Income for Individuals

Reporting nonbusiness expenses

Non-business

expenses

01 02  If you rent personal property for profit, include
your rental expenses in the total amount you
enter on Schedule 1 (Form 1040), line 22, and see
the instructions there.
 If you don’t rent personal property for profit, your
deductions are limited and you can’t report a loss
to offset other income.
 See Activity not for profit under Other Income,
later.
04 03

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