Introduction

Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

You can attach your own schedule(s) to report income or loss from any of these sources. Use the same format as on Schedule E.

Enter separately on Schedule E the total income and the total loss for each part. Enclose loss figures in (parentheses).

What's New

Husband-wife qualified joint venture.

 Beginning in 2007, you and your spouse, if you are married filing jointly, may be able to elect to be taxed as a qualified joint venture for purposes of reporting income and expenses from a business that you jointly own and operate. To make this election, each of you must file a separate Schedule C or C-EZ. See Husband-wife qualified joint venture on page E-3.