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Kelvin owns and lives in a duplex. He rents the other unit for $800 per month. He incurs the following expenses during the current year
Kelvin owns and lives in a duplex. He rents the other unit for $800 per month. He incurs the following expenses during the current year for the entire property: Mortgage interest $7,750: Property taxes 2,200: Utilities 1,840 :Fixed light fixture in rental unit: 120 Fixed dishwasher in personal unit: 300 Painted entire exterior: 1,220 Insurance 2,400: Depreciation (entire structure): 6,900. How are the above income and expenses reported on Kelvins tax return? On what tax form(s) are these amounts reported?
Personal | Schedule A | Schedule E | |
Income | |||
Mortgage Interest | |||
Propert taxes | |||
Utilities | |||
Fix Light (Rental) | |||
Fix Dishwasher | |||
Paint Exterior | |||
Insurance | |||
Depreciation |
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