Nimit is self-employed. He operates a business that rents electric bikes by the hour. During the current year, Nimit had rental income of $115,000. Where is Nimit's rental income reported on his tax return?

Schedule C (Form 1040).

Schedule E (Form 1040).

Schedule 1 (Form 1040).

Schedule 2 (Form 1040).

Estates and trusts must file tax returns. Instead of Form 1040, estates and trusts file Form 1041, U.S. Income Tax Return for Estates and Trusts. Which schedule should be provided to each beneficiary?

Schedule E (Form 1040).

Schedule K-1 (Form 1041).

Schedule K-1 (Form 1065).

Schedule K-1 (Form 1120-S).