Net rental income for tax purposes — gross rent − operating expenses − depreciation, which comes from the property's purchase facts. Save a Mortgage instance for the same property to layer in interest; combine with the STR loophole tool to see if a loss can offset W-2 income.
Total rent collected for the year, before any expenses.
Personal use exceeding the GREATER of 14 days or 10% of rental days makes the property a residence — losses are disallowed.
Line numbers match Form Schedule E. Mortgage interest (line 12) lives on the Mortgage instance — link it to the same property.
Lines of credit, owner financing — not the primary mortgage.
Depreciation comes from the property's purchase. Signed in, these facts live on the property and every year reads them.
Land isn't depreciable. The county assessor's land ÷ total assessed value is the usual split; many areas run 15–30%.
Sets the bonus depreciation rate and the holding period.
Only if it became a rental this year. A nonresident's rent is sourced to the property's state, set on the property.
A part-year resident is taxed on this property's income or loss for the days they lived in that state, wherever the property is. From your books for the residence period; blank = the year's net prorated by days.
Operating expenses only — the period's depreciation, interest and loan costs come from the property and its loan.
Net rental income
$—
Enter your annual gross rent to see net income.
Schedule E preview