OLT.com Customer Service Knowledge Base
Support Center > Knowledge base> Category: Rental/Royalty Income (Schedule E)
Category: Rental/Royalty Income (Schedule E)
22 Articles
Orange arrow How to report rental income on Schedule E

2339 views
  If you owned rental properties, you need to report the rental income and expenses on Schedule E. Have your rental income report ready and gather all of the expenses for the rental property, and if you are looking to prepare and efile your Schedule E yourself. Follow this document to file your Sche...
Orange arrow Schedule E - Supplemental Income and Loss

2441 views
  Use Schedule E (Form 1040) to report income or loss from rental real estate (including personal property leased with real estate), royalty income and expense, income or loss from estates or trusts, farm rental income and expenses based on crops or livestock produced by the tenant, income or loss fr...
Orange arrow Classification of Property - Form 4562

2467 views
  Use the following rules to determine the classification of the property under ADS. Under ADS, the depreciation deduction for most property is based on the property's class life. See section 168(g)(3) for special rules for determining the class life for certain property. See Pub. 946 for informatio...
Orange arrow Expenses for Schedule E

1801 views
  Enter your rental and royalty expenses for each property in the appropriate column. You can deduct all ordinary and necessary expenses, such as taxes, interest, repairs, insurance, management fees, agents' commissions, and depreciation. Do not deduct the value of your own labor or amounts paid for ...
Orange arrow Do I have to file Form 8582?

2522 views
  Exception for Certain Rental Real Estate Activities If you meet all of the following conditions, your rental real estate losses are NOT limited by the passive activity loss rules. If you do not meet all of these conditions, see the Instructions for Form 8582 to find out if you must complete and a...
Orange arrow Income or Loss From Rental Real estate and Royalties

2292 views
  Income or Loss From Rental Real Estate and Royalties This section is to report: Income and expenses from rental real estate (including personal property leased with real estate), and Royalty income and expenses See Schedule E instructions to determine if you should report your rental real ...
Orange arrow Amortization - Description of Costs

1616 views
  Only enter costs for which the amortization period begins during your tax year beginning in the current tax year. Describe the costs you are amortizing. You may amortize the following: Geological and geophysical expenditures (section 167(h)) Pollution control facilities (section 169) ...
Orange arrow Section 179 Deduction and Special Allowance - Form 4562

2730 views
  Section 179 Property https://www.irs.gov/pub/irs-pdf/i4562.pdf?_ga=1.247664839.1715192775.1473785521 Section 179 property is property that you acquire by purchase for use in the active conduct of your trade or business, and is one of the following. Qualified section 179 real property. For more...
Orange arrow Amortization

1451 views
  Amortization Amortization is similar to the straight line method of depreciation in that an annual deduction is allowed to recover certain costs over a fixed time period. You can amortize such items as the costs of starting a business, goodwill, and certain other intangibles. See the instructions ...
Orange arrow Reporting Rental Income

2034 views
  Real Estate Income on Schedule E , Reporting Rental Income, Partnership Income, Real Estate Income on Schedule E Schedule E is used to report rental income and expenses from the rental properties you owned. In addition, Schedule E is also used to report royalties, partnerships, S corporations, e...
Orange arrow Activities of Real Estate Professionals

1976 views
  Activities of Real Estate Professionals If you were a real estate professional in the tax year, any rental real estate activity in which you materially participated is not a passive activity. You were a real estate professional only if you met both of the following conditions. More than half o...
Orange arrow Travel Expenses for Schedule E

2255 views
  Expenses for Travel You can deduct ordinary and necessary auto and travel expenses related to your rental activities, including 50% of meal expenses incurred while traveling away from home. However, business meals are 100% deductible if the meals are food and beverages provided by a restaurant an...
Orange arrow What is the difference between capital and deductible expenses?

2047 views
  A capital expense is payment, or debt incurred, for the acquisition, production, or improvement of a unit of property. You include the expense in the basis of the asset. Uniform capitalization rules also require you to capitalize or include in inventory certain other expenses. See chapters 2 and 6 ...
Orange arrow What are capital expenses?

2183 views
  Capital expense is payment, or debt incurred, for the acquisition, production, or improvement of a unit of property. You include the expense in the basis of the asset. Uniform capitalization rules also require you to capitalize or include in inventory certain other expenses. Capital expenses are g...
Orange arrow Depreciation and Other Information

1741 views
  You can deduct depreciation of buildings, improvements, cars and trucks, machinery, and other farm equipment of a permanent nature. Don't deduct depreciation on your home, furniture or other personal items, land, livestock you bought or raised for resale, or other property in your inventory. Yo...

Page: 1 of 2