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OGg Owner's Portal for 1213 Property Etc
OGg Owner's Portal for 1213 Property Etc
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IRS Schedule E Report
IRS Schedule E Report
Schedule E is an expenses report for IRS as a part of Form 1040.
The following table summarizes the expenses categories.
Repairs vs Supply
Repairs and Supply are normally associated with fixing up the condition for rental properties.
It's not for any improvement purpose. Therefore it should be fully deducted within the same fisical year instead of using deappriation.
Lot of invoices were not breakdown into labor and supply.
Therefore, we have redistributed some repairs costs into Supply costs to balance out.
Maintenance
The maintenance costs were also mandated to be separated from the Repairs costs to balance out this schedule E table.
Rent Income
The rent column below is the commission deducted from the rent income for management costs.
As the result, the total amount of rent reported in Schedule E below is less than the gross rent collection reported in the summary table above.
Other Costs category:
In general, HOA fees and Home warranty costs are listed as Other Costs.
There are listed here as HOA and Insurance.
You may consult your CPA to make a determination.
End
Schedule E with Details
Schedule E with Details
The following table shows the total gross rent income per property.
The total payouts is the net proceeding or net rent income.
The difference between the gross rent income and net rent income is expenses.
The expenses will be categorized in the next schedule E table.
Schedule E with Expenses Categories
Schedule E with Expenses Categories
Schedule E is an expenses report for IRS as a part of Form 1040.
The following table summarizes the expenses categories.
Repairs vs Supply
Repairs and Supply are normally associated with fixing up the condition for rental properties.
It's not for any improvement purpose. Therefore it should be fully deducted within the same fisical year instead of using deappriation.
Lot of invoices were not breakdown into labor and supply.
Therefore, we have redistributed some repairs costs into Supply costs to balance out.
Maintenance
The maintenance costs were also mandated to be separated from the Repairs costs to balance out this schedule E table.
Rent Income
The rent column below is the commission deducted from the rent income for management costs.
As the result, the total amount of rent reported in Schedule E below is less than the gross rent collection reported in the summary table above.
Other Costs category:
In general, HOA fees and Home warranty costs are listed as Other Costs.
There are listed here as HOA and Insurance.
You may consult your CPA to make a determination.
End
Section 8 Schedule E
Section 8 Schedule E
The following table shows how much Housing paid for Section 8 tenants if applicable
The total amount of the Housing paid should match up 1099-Misc
When you enter the rent amount, you only need to enter the Tenant paid portion in your Schedule E since 1099 Misc is reported to IRS already.
You do need to enter the 1099 Misc in you tax return as well.
Schedule E Drill Down Reports
Schedule E Drill Down Reports
The following report features a drop down selection.
On your desktop computer, you need to click on the arrow on the upper right corner.
On a mobile device, you need to download an App called "Google Sheets"
Then you should be able to select a report via a dropdown menu on the upper left corner of the Google Sheet below.
With the a selection from this dropdown, you can see additional reports:
Schedule E Report in Vertical Format
An expenses break down table shows some context regards to each expensive items.
This table can be used as a supporting documents for the Schedule E report.
OGg Schedule E Archive
OGg Schedule E Archive
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