Income Tax Deductions for Your Home Business
2019 INCOME for Your Rental Property
Rental Income Received From Renters $________
Rental Income Received on 1099 $______
(Need Copy)
Tax Deductions for Rental Property
(Copy one for each month and store in envelopes;
then copy one for end of year and complete)
EXPENSES (save all receipts)
Advertising $
Cleaning and
Maintenance $
Commissions $
Insurance $
Legal and other professional
fees $____________
Management fees $_____________
Mortgage interest $
Repairs $
Supplies $
Real estate taxes $
Military one time travel
Total miles round trip ____________
Loadging $____________
Meals $
Airfare $
Rental vehicle $_____________
RENATL PROPERTY PURCHASE PRICE
Provide settlement statement for summary of buyers and sellers
DEDUCTIONS FOR HOME OFFICE
Mortgage Interest $____________
Property Taxes $____________
Renters Insurance $____________
Mortgage Insurance $_____________
Repairs\Maintenance $_____________
Utilities $_____________
Electric $_____________
Gas $_____________
Water $_____________
Trash $_____________
Cost of Home $_____________
Other $____________
Other $____________
Other $_____________
)
|AUTO EXPENSES |
|ASSUMING YOU ARE TAKING STANDARD MILEAGE DEDUCTION, THEN THE |
|FOLLOWING INFORMATION IS NEEDED |
| |Vehicle 1 | |Vehicle 2 |
|Begging Miles Jan 1 |_______ | |_______ |
|Ending Miles Dec 31 |_______ | |_______ |
|Total Miles Driven Year |_______ | |_______ |
|Total Business Miles Year |_______ | |_______ |
|Total Loan Interest Year |_______ | |_______ |
| |
|IF YOU ARE TAKING ACTUAL EXPENDITURES, THE FOLLOWING ADDITIONAL |
|INFORMATION IS NEEDED |
|Cost of automobile |_______ | |_______ |
|Actual cash down payment |_______ | |_______ |
|Sales tax paid |_______ | |_______ |
|Gas/oil, etc |_______ | |_______ |
|Insurance |_______ | |_______ |
|Car wash |_______ | |_______ |
|License |_______ | |_______ |
|Lease payments |_______ | |_______ |
|Miscellaneous expenses |_______ | |_______ |
|Repairs |_______ | |_______ |
|Total: |_______ |Total: |_______ |
|For Cost of Property Purchased roperty purchasedS |
Provide settlement statement of buyers and sellers transaction received at closing
Provide settlement statement for summary of buye
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