Question
Wages: Total wages reported on Form W-2: $82,125.00 Interest and Dividends: Ordinary dividends from Form 1099-DIV: $4,700.00 Qualified dividends from Form 1099-DIV: $4,700.00 Taxable interest:
Wages:
Total wages reported on Form W-2: $82,125.00 Interest and Dividends:
Ordinary dividends from Form 1099-DIV: $4,700.00 Qualified dividends from Form 1099-DIV: $4,700.00 Taxable interest: $3,878.78 (from Form 1098) Capital Gain:
Capital gain distribution: $1,324.00 Alimony:
Alimony received: $500 per month for the year, totaling $6,000. Sale of Primary Residence:
Gross proceeds from the sale: $596,465.00 Selling expenses: $35,755.00 Basis in the home: $292,000.00 Property taxes paid: $6,000.00 Buyer's reimbursement of property taxes: $33.33 Rental Income and Expenses:
Rental income: $2,000 per month for the year, totaling $24,000. Security deposit retained: $300.00 Mortgage interest: $9,500.00 Real estate taxes: $7,000.00 Insurance: $2,000.00 Repairs: $1,000.00 Homeowner's association fees: $5,600.00 Other Deductions:
Auto loan interest: $1,575.00 Credit card interest: $655.00 State sales tax: $2,022.00 Doctor bills: $5,000.00 Other deductible medical expenses: $1,800.00 Income tax preparation fee: $500.00 Job-hunting expenses: $925.00 Charitable donation: $2,500.00 Federal estimated tax payment: $5,000.00 Retirement Contribution:
Contribution to Roth IRA: $6,500.00
SCHEDULE E (Form 1040) Department of the Treasury Internal Revenue Service | Supplemental Income and Loss (From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.) Attach to Form 1040, 1040-SR, 1040-NR, or 1041. Go to www.irs.gov/ScheduleE for instructions and the latest information. | OMB No. 1545-0074 |
2023 Attachment Sequence No. 13 |
Name(s) shown on return John Fuji | Your social security number 571-78-5974 |
Part I | Income or Loss From Rental Real Estate and Royalties Note: If you are in the business of renting personal property, use Schedule C. 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 2023 that would require you to file Form(s) 1099? See instructions . . . . . . . . . . . . . . . . | Yes | No |
B | If "Yes," did you or will you file required Form(s) 1099? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Yes | No |
1a | Physical address of each property (street, city, state, ZIP code) | ||||||
A | 1012 E. Terrace Street, Unit 1204, Seattle, WA 98122 | ||||||
B | |||||||
C | |||||||
1b | Type of Property (from list below) | 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. | Fair Rental Days | Personal Use Days | QJV | |
A | 123456781 | A | fill in the blank 4983490c2023fa5_2 | ||||
B | B | ||||||
C | C |
Type of Property: | ||||
1 Single Family Residence | 3 Vacation/Short-Term Rental | 5 Land | 7 Self-Rental | |
2 Multi-Family Residence | 4 Commercial | 6 Royalties | 8 Other (describe) |
Properties: | |||||||||
Income: | A | B | C | ||||||
3 | Rents received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3 | fill in the blank 4983490c2023fa5_3 | ||||||
4 | Royalties received . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 | |||||||
Expenses: | |||||||||
5 | Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5 | |||||||
6 | Auto and travel (see instructions) . . . . . . . . . . . . . . . . . | 6 | |||||||
7 | Cleaning and maintenance . . . . . . . . . . . . . . . . . . . . . . | 7 | |||||||
8 | Commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 8 | |||||||
9 | Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 9 | fill in the blank 4983490c2023fa5_4 | ||||||
10 | Legal and other professional fees . . . . . . . . . . . . . . . . . . | 10 | |||||||
11 | Management fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 11 | |||||||
12 | Mortgage interest paid to banks, etc. (see instructions) | 12 | fill in the blank 4983490c2023fa5_5 | ||||||
13 | Other interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 13 | |||||||
14 | Repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 14 | fill in the blank 4983490c2023fa5_6 | ||||||
15 | Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 15 | |||||||
16 | Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 16 | fill in the blank 4983490c2023fa5_7 | ||||||
17 | Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 17 | |||||||
18 | Depreciation expense or depletion . . . . . . . . . . . . . . . . . | 18 | |||||||
19 | Other (list) | HOA Fees | 19 | fill in the blank 4983490c2023fa5_8 | |||||
20 | Total expenses. Add lines 5 through 19 . . . . . . . . . . . . . . | 20 | fill in the blank 4983490c2023fa5_9 | ||||||
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 | fill in the blank 4983490c2023fa5_10 | ||||||
22 | Deductible rental real estate loss after limitation, if any, on Form 8582 (see instructions) . . . . . . . . . . . . . . . . . . . . | 22 | (fill in the blank 4983490c2023fa5_11 | ) | ( | ) | ( | ) | |
23a | Total of all amounts reported on line 3 for all rental properties . . . . . . . . . . . . . . . . | 23a | fill in the blank 4983490c2023fa5_12 | ||||||
b | Total of all amounts reported on line 4 for all royalty properties . . . . . . . . . . . . . . . | 23b | |||||||
c | Total of all amounts reported on line 12 for all properties . . . . . . . . . . . . . . . . . . . | 23c | fill in the blank 4983490c2023fa5_13 | ||||||
d | Total of all amounts reported on line 18 for all properties . . . . . . . . . . . . . . . . . . . | 23d | |||||||
e | Total of all amounts reported on line 20 for all properties . . . . . . . . . . . . . . . . . . . | 23e | fill in the blank 4983490c2023fa5_14 | ||||||
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 | (fill in the blank 4983490c2023fa5_15 | ) | |||||
26 | Total rental real estate and royalty income or (loss). Combine lines 24 and 25. Enter the result here. If Parts II, III, and 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 . . . . . . . . . . . . . . . . . . . . . . | 26 | fill in the blank 4983490c2023fa5_16 |
For Paperwork Reduction Act Notice, see the separate instructions. | Cat. No. 11344L | Schedule E (Form 1040) 2023 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started