When you are a landlord, there are many things to keep track of. In order to make tax time a little less stressful, the IRS has created a rental property expenses form. This form can help you track your expenses and deductions throughout the year. Knowing what is deductible can help you save money on your taxes. By using this form, you can make sure that nothing is missed come tax time. Being a landlord can be complicated and overwhelming at times, but using the rental property expenses form can make it a little bit easier.
Here is some information to help you learn the time it will take to complete the rental property expenses form.
| Question | Answer |
|---|---|
| Form Name | Rental Property Expenses Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | rental income and expense worksheet pdf, rental property expenses sheet, rental income expense worksheet, rental income and expense worksheet |
Rental Property Records
Address of property
Purchase date
Purchase Amount
Less value of land
Depreciated amount
Depreciation expense
Income
Jan
Feb
March
April
May
June
July
August
September
October
November
December
Total
Please note any
Improvements /Remodeling/Additions
Description |
Date |
Amount |
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Year
Expenses
Advertising
Cleaning
Insurance
Legal fees
Maintenance
Tax prep fee
Management fees
Mortgage Interest
Repairs
Supplies
Taxes
Utilities
Other:
Miles
**Note: Payments over $600 in rental property expenses must be reported on a Form 1099MISC. Please collect name, address and tax ID number form any person or business you pay more than $600 in a year. Use IRS Form
Name & Address |
Tax ID number |
Amount paid |
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1099MISC forms must be delivered by Jan
31.Call Carol to prepare your 1099MISC forms.
created by Carol Topp, CPA |
CarolToppCPA.com |