fill out schdule E
answer line 18 & 21 & 22
Jim Sarowski (SSN 000-00-2222) is 70 years old and single. In March of 2018, he purchased a duplex at 2006 Tennessee Street to use as rental property for $100,000, with 20% of the price allocated to land. During the year, he had the following receipts and expenditures with respect to the duplex: Rent receipts $8,800 Interest paid 5,900 Property taxes 1,400 Insurance 800 Maintenance 300 Other expenditures during the year: Contributions to the church $2,600 Personal property taxes 225 Sales tax 345 2018 tax was $200. Assume rental was rented out for all of the year while it was owned. Assume anytime given info mentions a month and year that you can use first date of the month. Prepare schedule e Standard Dc ele cument 1b Type of Property (from list below) 2 For each rental real estate property isted above. report the number of throntal and personal use days. Check the OJ box only you meet the requirements to file as a qualified joint venture. See instructions Fair Rental Days Personal Use Days ON A B A B Type of Property: 1 Single Family Residence 2 Multi-Family Residence 3 Vacation Short-Term Rental 5 Land Income: 4 Commercial 7 Self-Rental 6 Royalties Properties: 8 Other describe 3 Rents received A B 4 Royalties received 3 8ool Expenses: 4 5 Advertising 6 Auto and travel (see instructions) 5 7 Cleaning and maintenance 6 8 Commissions. 7 300 8 9 Insurance 9 10 Legal and other professional fees ROO 10 11 Management fees 11 12 Mortgage interest paid to banks, etc. (see instructions) 12 5900 13 Other interest 13 14 Repairs. 14 15 Supplies 15 16 Taxes 16 1400 17 Utilities 17 18 18 Depreciation expense or depletion 19 Other (list) 19 20 20 8.400 Total expenses. Add lines 5 through 19 21 Subtract line 20 from line 3 (rents) and/or 4 froyalties). If result is a (loss), see instructions to find out if you must 21 400 file Form 6198 22 Deductible rental real estate loss after limitation, if any. 22 on Form 8582 (see instructions) 23a 23a Total of all amounts reported on line 3 for all rental properties 23b b Total of all amounts reported on line 4 for all royalty properties 23c c Total of all amounts reported on line 12 for all properties 23d d Total of all amounts reported on line 18 for all properties 230 e Total of all amounts reported on line 20 for all properties 24 Income. Add positive amounts shown on line 21. Do not include any losses 25 Losses. Add royalty losses from line 21 and rental real estate losses from line 22. Enter total losses here. 26 800 5900 84001 24 25 26 Schedule E Form 1002020 Total rental real estate and royalty income or loss). Combine lines 24 and 25. Enter the result here. I Parts II, III, IV, and line 40 on page 2 do not apply to you, also enter this amount on Schedule 1 (Form 1040), line 5. Otherwise, Include this amount in the total on line 41 on page 2 For Paperwork Reduction Act Notice, see the separate instructions Cat NA 1134 DELL pu Jim Sarowski (SSN 000-00-2222) is 70 years old and single. In March of 2018, he purchased a duplex at 2006 Tennessee Street to use as rental property for $100,000, with 20% of the price allocated to land. During the year, he had the following receipts and expenditures with respect to the duplex: Rent receipts $8,800 Interest paid 5,900 Property taxes 1,400 Insurance 800 Maintenance 300 Other expenditures during the year: Contributions to the church $2,600 Personal property taxes 225 Sales tax 345 2018 tax was $200. Assume rental was rented out for all of the year while it was owned. Assume anytime given info mentions a month and year that you can use first date of the month. Prepare schedule e Standard Dc ele cument 1b Type of Property (from list below) 2 For each rental real estate property isted above. report the number of throntal and personal use days. Check the OJ box only you meet the requirements to file as a qualified joint venture. See instructions Fair Rental Days Personal Use Days ON A B A B Type of Property: 1 Single Family Residence 2 Multi-Family Residence 3 Vacation Short-Term Rental 5 Land Income: 4 Commercial 7 Self-Rental 6 Royalties Properties: 8 Other describe 3 Rents received A B 4 Royalties received 3 8ool Expenses: 4 5 Advertising 6 Auto and travel (see instructions) 5 7 Cleaning and maintenance 6 8 Commissions. 7 300 8 9 Insurance 9 10 Legal and other professional fees ROO 10 11 Management fees 11 12 Mortgage interest paid to banks, etc. (see instructions) 12 5900 13 Other interest 13 14 Repairs. 14 15 Supplies 15 16 Taxes 16 1400 17 Utilities 17 18 18 Depreciation expense or depletion 19 Other (list) 19 20 20 8.400 Total expenses. Add lines 5 through 19 21 Subtract line 20 from line 3 (rents) and/or 4 froyalties). If result is a (loss), see instructions to find out if you must 21 400 file Form 6198 22 Deductible rental real estate loss after limitation, if any. 22 on Form 8582 (see instructions) 23a 23a Total of all amounts reported on line 3 for all rental properties 23b b Total of all amounts reported on line 4 for all royalty properties 23c c Total of all amounts reported on line 12 for all properties 23d d Total of all amounts reported on line 18 for all properties 230 e Total of all amounts reported on line 20 for all properties 24 Income. Add positive amounts shown on line 21. Do not include any losses 25 Losses. Add royalty losses from line 21 and rental real estate losses from line 22. Enter total losses here. 26 800 5900 84001 24 25 26 Schedule E Form 1002020 Total rental real estate and royalty income or loss). Combine lines 24 and 25. Enter the result here. I Parts II, III, IV, and line 40 on page 2 do not apply to you, also enter this amount on Schedule 1 (Form 1040), line 5. Otherwise, Include this amount in the total on line 41 on page 2 For Paperwork Reduction Act Notice, see the separate instructions Cat NA 1134 DELL pu
