Rental Property Income and Expenses
New Clients - We're so excited to begin our partnership with you! Returning Clients - Welcome back! and thank you for allowing us to serve your business this year. To ensure we have the information we need to best serve you, please take a few moments to fill out the form below. If you have any questions, please feel free to contact us at any time. Thank you! 317-414-0695 | dmalone@dmbookkeeping.org www.bookkeepingservices.org
Rental Property General Information
Name of taxpayer
*
Email
example@example.com
Do you materially parcipate in this business?
*
Yes
No
Do you have Independent Contractors (1099s)
*
Yes
No
Did you pay ESTIMATED TAXES in the prior year related to this business?
*
Yes
No
Rental Income and Expenses
Indicate type of property as 1 - Single Family Residence, 2 - Multi-Family Residence, 3 - Vacation/Short-Term Rental, 4 - Commercial, 5 - Land, 6 - Self-Rental, or 7 - Other (describe).
Rental Property Information
*
Property A
Property B
Property C
Location of property:
Type
Any personal use? Yes No
Fair Rental Days
Personal Use Days
Date placed in service
Rents received
Expense
Type a question
Property A
Property B
Property C
Advertising
Cleaning and maintenance
Commissions
Insurance
Legal and professional fees
Management fees
Mortgage interest paid to banks
Other interest
Repairs
Supplies
Taxes
Utilities
Other Expenses (Itemized):
Description
Property A
Property B
Property C
Other Expense
Other Expense
Other Expense
Other Expense
Other Expense
Car Expenses (use a separate form for each vehicle)
You can deduct ordinary and necessary auto and travel expenses related to your rental activities.
Make/Model
Date car placed in service
-
Month
-
Day
Year
Date
Beginning of year odometer (mileage)
End of year odometer (mileage)
Business mileage
Commuting mileage
Other mileage
Actual auto expense
Property A
Property B
Property C
Parking and Tolls
Lease Payments
Auto Insurance
Interest on loan
Gas/Oil
Registration/Fees
Repairs
Other Expenses (Itemized):
Description
Property A
Property B
Property C
Other actual auto expense
Other actual auto expense
Other actual auto expense
Other actual auto expense
Other actual auto expense
Travel
• Meals. You can deduct the cost of meals while traveling away from home on business. You can use the actual cost of your meals or the standard meal allowance per diem, which can vary by location • Travel/Lodging. You can deduct the ordinary and necessary expenses of traveling away from your home for business purposes. Included expenses are transportation, airfare, taxi, lodging, et
Travel Detail
City visited (for per diem)
# of days in city
Property
City (1)
City (2)
City (3)
City (4)
City (5)
Type a question
Property A
Property B
Property C
Airfare
Bus, train, tax
Entertainment
Lodging
Parking and tolls
Meals (actual receipts)
Other Expenses (Itemized):
Description
Property A
Property B
Property C
Other actual travel expense
Other actual travel expense
Other actual travel expense
Other actual travel expense
Other actual travel expense
Equipment Purchases – Enter the following information for depreciable assets purchased that have a useful life greater than one year
Depreciation is the annual deduction that allows you to recover the cost or other basis of your property over a certain number of years. Depreciation starts when you first use the property in your business. It ends when you either take the property out of service, deduct all your depreciable cost or basis, or no longer use the property in your business. The IRS has outlined a useful life (a set number of years) for most assets.
Property Information
If this is your first year with our firm, please provide a depreciation schedule for all property placed in service before 2021.
Property Purchased:
Asset
Date purchased
Cost
Date placed in service
Property
Asset #1
Asset #2
Asset #3
Asset #4
Asset #5
Property Sold or Taken Out of Service
Asset
Date sold or taken out of service
Selling price
Trade In?
Property
Asset #1
Asset #2
Asset #3
Asset #4
Asset #5
By initialing below you are attesting that the personal and financial information provided to DM Bookkeeping Services is true and accurate. The information listed on the Rental Property Tax Organizer and, if applicable, the Schedule E organizer is the information that (I/WE) use to preparer to complete the return.
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Submit
Should be Empty: