Schedule E - Rental Information

Rental Property Owners (there is an abundance of information regarding rentals):

Please check IRS Publication 527 regarding all rental information.

We need all clients that have a rental to complete the Schedule E Input Sheet for each rental.  This will need to be filled out completely, if not then it will delay the preparation of your tax return.  If you are already a client then you do not have to fill out the "FMV of Home or Purchase Price" or the "Value of Land".  

Important INFORMATION for clients that have rentals (most qualify as a business and not investment activity): 

Elite Tax can file the 1099NEC's for you (charge is $20 per NEC), we will need a W-9 from the contractors (we recommend your get these before any work is completed) and the amount paid to each contractor.  The 1099NEC forms are to be filed by Jan 31 of the following year of payments.

Types of Expenses

Listed below are the most common rental expenses.

Schedule E Input Sheet(when clicking this, then you will fill this out online and submit back to Elite Tax)

To print form click here Might be easier if this is your first time completing

Mileage Log You will have to have a mileage log completed for any trips made to the rental.