The Wright's have a rental property It is a single family home located at 10 Ferry...

 

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The Wright's have a rental property It is a single family home located at 10 Ferry Dr. Tomball TX. During the year, they received $18,000 in rent. The following expenses are for the property : Legal fees $500 Supplies $500 Insurance $850 Utilities $1000 The home was placed in service on January 1, 2016 and the basis of the rental unit is $175,000, 20% of the price is for the land. They plan to deduct depreciation. Repairs $2500 Mortgage Interest: $4,000 Taxes $1900 Health Coverage Everyone in the household was covered by an employer plan for every month of the year. Does anyone know how to fill schedule E from this info? The Wright's have a rental property It is a single family home located at 10 Ferry Dr. Tomball TX. During the year, they received $18,000 in rent. The following expenses are for the property : Legal fees $500 Supplies $500 Insurance $850 Utilities $1000 The home was placed in service on January 1, 2016 and the basis of the rental unit is $175,000, 20% of the price is for the land. They plan to deduct depreciation. Repairs $2500 Mortgage Interest: $4,000 Taxes $1900 Health Coverage Everyone in the household was covered by an employer plan for every month of the year. Does anyone know how to fill schedule E from this info?

Answer rating: 100% (QA)

To complete Schedule E you will need to calculate the total rental income a... View the full answer