Re: Taxes Checklist - Landlord Forum thread 330288

Re: Taxes Checklist by Anonymous on January 25, 2015 @21:43

So you'll be filing a Schedule E form. I suggest you get the booklet with worksheet for filling it out. For the numbers, it seems to me that you have the correct idea for estimating your rental costs that you pay on the tenants' behalf. For example, if your sewer & trash bill is $60/month, I'd use $30 for a sewer/trash bill each month for the tenant--or $360/year. Now if the tenant reimburses you this $360, you cannot use it as a schedule E rental expense. You work through all bills in that fashion. I too would like to hear other input/correction.

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