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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13151
Experience:  15years with H & R Block. Divisional leader, Instructor
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First year house rental House value $115,000 Rent received

Customer Question

First year house rental
House value $115,000
Rent received $6,500
Cleaning and repairs $3,000
Improvements $8,000
How do I deduct all my costs?
Submitted: 7 months ago.
Category: Tax
Expert:  Robin D. replied 7 months ago.


You have to use Schedule E.

It has a place for you to list the rent received and every item on your list to reduce that income.

Here is a link to a Schedule E

You will also need to depreciate so here is that form

If you are using a software or program just mark that you had rental income and it will walk you through.

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Expert:  Robin D. replied 7 months ago.

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