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Can someone please tell me how to fill in a 2018 tax form 4562 with this information. I cannot figure this form out The Smiths
Can someone please tell me how to fill in a 2018 tax form 4562 with this information. I cannot figure this form out
The Smiths itemized deductions in 2018. The federal tax refund was $3,500 and the IL state tax refund was $600. In addition, the Smiths own rental property (a "two flat" in Chicago) which they have rented out for the entire year. Total rental income was $30,000. Rental property related expenses were as follows: Item Amount Mortgage Interest on Rental Property $13,000 Property Tax $9,000 Repairs on Rental Units $2,600 Depreciation on Rental Units (using SL Depreciation) $3,500 Utilities $3,000 Landscaping $500Step by Step Solution
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