Schedule E (Form 1040) Supplemental Income and Loss 2019

Schedule E (Form 1040) Supplemental Income and Loss 2019

Summary: This is an example of Schedule E (Form 1040) 2019 as pertains to the estate described in the text. The completed line items are:

"Name(s) shown on return" field contains Thomas Smith Bankruptcy Estate
"Your social security number" field contains 00-00-00000
Under"Part I: Income or Loss From Rental Real Estate and Royalties":
"1. List the type and location of each rental real estate property: A" field contains Commercial Rental Real Estate, Anywhere, Anystate, 00000
"2. For each rental real estate property listed on line 1, did you or your family use it for personal purposes for more than the greater of 14 days or 10% of the total days rented at fair rental value during the tax year? (See page E-1.): A. No" checkbox checked
Under"Income":
"3. Rents received: Properties A" field contains 75,000
Under"Expenses":
"12. Mortgage interest paid to banks, etcetera. (see page E-2): Properties A" field contains 10,000
"16. Taxes: Properties A" field contains 20,000
"18. Depreciation expense of depletion (see page E-2): Properties A" field contains 5,000
"20. Add lines 5 through 19: Properties A" field contains 35,000
"21. Subtract line 20 from line 3 (rents) and/or 4 (royalties). If result is a (loss), see instructions to find out if you must file Form 6198" field contains 40,000
"23a. Total of all amounts reported on line 3 for all rental properties" field contains 75,000
"23c. Total of all amounts reported on line 12 for all properties"field contains 10,000
"23d. Total of all amounts reported on line 18 for all properties" field contains 5,000
"23e. Total of all amounts reported on line 20 for all properties"field contains 35,000
"24. Income. Add positive amounts shown on line 21. Do not include any losses" field contains 40,000
"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 do not apply to you, also enter this amount on Schedule 1 (Form 1040), line 17, or Form 1040NR, line 18. Otherwise, include this amount in the total on line 41 on page 2 ." field contains 40,000