| Pub. 527, Residential Rental Property |
2004 Tax Year |
This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Schedule E (Form 1040) Supplemental Income and Loss 2004. Summary: This is an example of Schedule E (Form 1040) 2004 as pertains to the example in the text. The line items are completed
as
follows:
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“Name(s) shown on return” field contains Eileen Johnson
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“Your social security number” field contains 123-00-4567
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Under
“Part I: Income or Loss From Rental Real Estate and Royalties”:
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“1A. Show the kind and location of each rental real estate property” field contains
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Brick House
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123 Main Street, Hometown, Minnesota 56200
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“2A. For each rental real estate property listed on line 1, did you or your family use it during the tax year for personal
purposes for more
than the greater of 14 days or 10% of the total days rented at fair rental value? (See page E-3.) No” checkbox checked
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Under
“Income”:
der
“Income”:
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“3. Rents received”
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“Properties A” field contains 8,250
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“Totals (Add columns A, B, and C.)” field contains 8,250
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Under
“Expenses”:
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“9. Insurance--Properties A” field contains 92
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“12. Mortgage interest paid to banks, etcetera. (see page E-4)”
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“Properties A” field contains 1,650
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“Totals (Add columns A, B, and C.)” field contains 1,650
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“14. Repairs--Properties A” field contains 297
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“16. Taxes--Properties A” field contains 1,100
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“19. Add lines 5 through 18”
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“Properties A” field contains 3,139
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“Totals (Add columns A, B, and C.)” field contains 3,139
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“20. Depreciation expense or depletion (see page E-4)”
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“Properties A” field contains 1,587
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“Totals (Add columns A, B, and C.)” field contains 1,587
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“21. Total expenses. Add lines 19 and 20” field contains 4,726
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“22. Income or (loss) from rental real estate or royalty properties. Subtract line 21 from line 3 (rents) or line 4 (royalties).
If the result
is a (loss), see page E-4 to find out if you must file Form 6198” field contains 3,524
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“24. Income. Add positive amounts shown on line 22. Do not include any losses” field contains 3,524
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“26. Total rental real estate and royalty income or (loss). Combine lines 24 and 25. Enter the result here. If Parts II, III,
IV, and line 40
on page 2 do not apply to you, also enter this amount on Form 1040, line 17. Otherwise, include this amount in the total on
line 40 on page 2”
field contains 3,524
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