Future developments.   For the latest information about Schedule E, including any developments after these instructions were released, go to www.irs.gov/form1040.

New merchant card reporting requirements.   We added new lines 3a and 3b to implement reporting of gross receipts received via merchant card (credit and debit cards) and third party network payments. However, for 2011, the IRS has deferred the requirement to report these amounts. Therefore, enter zero on line 3a and report all gross receipts on line 3b, including any income reported to you on Form 1099-K, Merchant Card and Third Party Network Payments. See the instructions for lines 3a and 3b.

Information reporting requirements.   New lines A and B address your required filing of Forms 1099 in 2011. See the instructions for line A for details and see the General Instructions for Certain Information Returns to determine whether you are required to file any Forms 1099.

Qualified joint ventures reporting rental real estate income.   Beginning in 2011, qualified joint ventures reporting rental real estate income that is not subject to self-employment tax must report that income on Schedule E instead of Schedule C. See Husband-Wife Qualified Joint Venture for details.

Standard mileage rate.   The standard mileage rate for miles driven in connection with your rental activities increased to 51 cents per mile for miles driven before July 1, 2011 and increased to 55.5 cents per mile for miles driven after June 30, 2011. See the instructions for line 6.