I'm confused on the rental house deductions for expenses to put onto the schedule E, the problem is as follows;
The house rents for $1000 per month and was rented for the entire year. The following are the related expenses for the rental house:
Real estate taxes $3500
Mortgage Interest 12,500
Insurance 900
Depreciation (assume fully depreciated) 0
Gardening 1000
Repair 600
Maintenance 3636
The house was purchased on July 5, 1965. Dr. Beeper handles all rental activities himself.
How do I find the deductions for these expenses or do I just fill the numbers into where it asks for it?
The house rents for $1000 per month and was rented for the entire year. The following are the related expenses for the rental house:
Real estate taxes $3500
Mortgage Interest 12,500
Insurance 900
Depreciation (assume fully depreciated) 0
Gardening 1000
Repair 600
Maintenance 3636
The house was purchased on July 5, 1965. Dr. Beeper handles all rental activities himself.
How do I find the deductions for these expenses or do I just fill the numbers into where it asks for it?