SCHEDULE E (Form 1040) Supplemental Income and Loss 2020

SCHEDULE E (Form 1040) Supplemental Income and Loss 2020

Summary: This is an example of Schedule E (Form 1040) 2020 as pertains to the text. The line items are completed as follows:

"Name(s) shown on return" field contains John R. (Deceased) & Mary L. Smith
"Your social security number" field contains 234-00-7890
Under"Part I: Income or Loss From Rental Real Estate and Royalties":
"1a. Physical address of each property (street, city, state, and ZIP code): A" field contains House, 137 Main Street, Juneville, ME 00000
"2. For each rental real estate property listed above, report the number of fair rental and personal use days. Check QJV box only if you meet the requirements to file as a qualified joint venture. See instructions.--A. 365"
"3. Rents received. A" field contains 12,000"Totals (Add columns A, B, and C.)" field contains 12,000
"9. Insurance. A" field contains 260
"12. Mortgage interest paid to banks, etc. (see instructions). A" field contains 410"Totals (Add columns A, B, and C.)" field contains 410
"14. Repairs. A" field contains 350
"16. Taxes A" field contains 700
"18. Depreciation expense or depletion" field contains 2,097
"20. Total expenses. Add lines 5 through 19. A" "Totals (Add columns A, B, and C.)" field contains 3,817
"21. Subtract line 20 from line 3 (rents) and/or (royalties). If result is a (loss), see instructions to find out if you must file Form 6198 A" field contains 8,183
"23a. Total of all amounts reported on line 3 for all rental properties. A" field contains 12,000
"23c. Total of all amounts reported on line 12 for all properties. A" field contains 410
"23d. Total of all amounts reported on line 18 for all properties. A" field contains 2,097
"23e. Total of all amounts reported on line 20 for all properties. A" field contains 3,817
"24. Income. Add positive amounts shown on line 22. Don't include any losses" field contains 8,183
"26. Total rental real estate and royalty income or (loss). Combine lines 24 and 25. Enter the result here. If Parts II, III, IV, and line 40 on page 2 don't apply to you, also enter this amount on Form 1040, line 17, or Form 1040-NR, line 18. Otherwise, include this amount in the total on line 41 on page 2" field contains 8,183