Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Schedules K-1 and Rental Income Workout

Rental Income and Expenses

Case Study 2: Rental Expenses

Sergeant Paul Kingman lived in his home through September, when he was notified he was being transferred overseas. He rented his home out beginning in October. The total amount of Sergeant Kingman's mortgage interest for the tax year was $2,400 and his property taxes were $600.

How much of that amount should you enter on Sergeant Kingman's Schedule A and how much on Schedule E?

Click here for an explanation.

Sgt. Paul Kingman.