SCHEDULE E WORK SHEET
TYPE OF RENTAL (Single, double, three unit, etc...)
INCOME (The amount of rent received for the year)
EXPENSES
ADVERTISING (for rent signs, newspaper, etc...)
AUTO & TRAVEL (estimate of miles driven for any purpose that deals with rental)
CLEANING & MAINTENANCE (lawn care, furnace maintenance. cleaning service, etc...)
COMMISSIONS (money paid to real estate broker to find a tenant)
INSURANCE (house insurance)
LEGAL & PROFESSIONAL FEES (lawyer, tax prep., etc...)
MANAGEMENT FEES (if you pay some to manage your rental)
MORTGAGE INTEREST PAID (interest paid to bank for rental)
OTHER INTEREST (interest paid to bank on second mortgage, short term loans)
REPAIRS (repair costs to keep your property in good condition)
SUPPLIES (light bulbs, cleaning supplies, store items, office supplies, etc...)
TAXES (property taxes)
UTILITIES (electric, gas, fuel, water, sewer, phone, cable, etc...)
OTHER EXPENSES (permits, license, or any costs that don’t fit into the above items)
DEPRECIATION EXPENSES
(These items must be depreciated out over a given number of years)
PURCHASE PRICE OF RENTAL (date placed into service, total purchase price of rental including legal and professional fees paid at time of closing)
MAJOR REPAIRS (new roof, new windows, carpet, etc...)
IF YOU LIVE IN PART OF THE RENTAL THEN THE AMOUNT YOU CAN CLAIM FOR SOME EXPENSES IS LIMITED. GIVE US YOUR TOTALS AND LET US KNOW IF YOU RESIDE IN PART OF THE RENTAL AND WE WILL FIGURE THE ALLOWED DEDUCTION