Self-Study Problem 4.7 Janet Rando lives in a duplex that she owns at 14 Lancaster Drive, Salem, OR 97305. Janetrents one-half of her duplex and lives in the other half. Her rental income for the year (365 days) is $6,000. Janet's basis for depreciation in the rental portion is $15,000, and she uses straight-line depreciation with a 27.5 year useful life. On the whole duplex, real estate taxes are $1,200, interest on the mortgage is $3,400, utilities are $1,800, and insurance is $450 Use Part 1 of Schedule to report Janet's income from rental of part of the duplex If an amount box does not require an entry or the answer is zero, enter "o". Enter all amounts as positive numbers. Round depreciation expense to the nearest dollar SCHEDULE E OMB No. 1545-0074 Supplemental Income and Loss (Form 1040) Department of the (From rental real estate, royalties, partnerships, Scorporations, estates, trusts, REMICS, 2018 Treasury Internal etc.) Attachment Revenue Service Attach to Form 1040, 1040NR, or Form 1041. (99) Go to www.lrs.gov/Schedule for instructions and the latest Information Sequence No. 13 Name(s) shown on return Your social security number Janet Randolf Part 1 Income or Loss From Rental Real Estate and Royalties Note: If you are in the business of renting personal property, use Schedule Cor C-EZ (see Instructions). If you are an individual, report farm rental income or loss from Form 4835 on page 2, line 40 A Did you make any payments in 2018 that would require you to file Form() 1099) (see instructions) Yes NO BI'Yes," did you or will you he required Forms 10997 Yes NO 1a Physical address of each property (street, city, state, ZIP code) A 14 Lancaster Drive, Salem, OR 97305 B 1b Type of Property (from list below) Fair Rental Days Personal Use Days QJV A A 2 For each rental real estate property listed above, report the number of fair rental and personal use days. Check the QJV box only if you meet the requirements to file as a qualified joint venture. See Instructions B B 3 Vacation Short-Term Rental 5 Land 7 Self-Rental Type of Property: 1 Single Family Residence 2. Multi-Family Residence Income: 4 Commercial 6 Royalties 8 Other (describe) Properties: B 3 Rents received 3 4 Royalties received 4 Expenses: 5 5 6 Advertising Auto and travel (see instructions) Cleaning and maintenance 6 I 7 7 8 Commissions B 9 Insurance. 9 10 Legal and other professional fees. 10 11 Management fees 11 12 12 Mortgage interest paid to banks, etc. (see Instructions) Other interest 13 13 Repairs 14 15 Supplies 15 15 15 Supplies 16 16 Taxes 17 17 Utilities 23a 18 Depreciation expense or depletion 18 19 Other (list) 19 20 Total expenses. Add lines 5 through 19. 20 21 Subtract line 20 from line 3 (rents) and/or 4 (royalties). If result is a (loss), see Instructions to find out if you must file Form 6198 21 22 Deductible rental real estate loss after limitation, if any, on Form 8582 (see instructions) 22 DIK DC 2 23a Total of all amounts reported on line 3 for all rental properties. b Total of all amounts reported on line 4 for all royalty properties 23b c Total of all amounts reported on line 12 for a properties 23c d Total of all amounts reported on line 18 for all properties 23d Total of all amounts reported on line 20 for all properties 23e 24 Income. Add positive amounts shown on line 21. Do not include any losses 24 25 Losses. Add royalty losses from line 21 and rental real estate losses from line 22. Enter total losses here 25 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 Schedule 1 (Form 1040), line 17, or Form 1040NR, line 18. Otherwise, include this amount in the total on line 41 on page 2 26 For Paperwork Reduction Act Notice, see the separate Instructions. Cat. No. 11344L Schedule E (Form 1040) 2018
