Stephen Landlord owns a rental property at 1806 Fox Drive, Champaign, IL 61820. This is a single-family residence and is rented year-round. During the year he received $12,500 in rental income. 

He paid the following expenses:

cleaning 483

Insurance 875

Mortgage interest 5437

repairs 728

Property taxes 4932

In addition, the building was commissioned on January 1, 2010, and the purchase price assigned to the building is 150,000. They will be eligible for a building depreciation deduction.

 REQUIRED

Complete Schedule E for Stephen. Actively participates in the property and is under income limitations.

Answer rating: 100% (QA)

Lets start with the information youve provided Rental Property Address 1806 Fox Drive Champaign IL 6... View the full answer