Summary: This is an example of Schedule E (Form 1040) 2006 as pertains to the example in the text. The line items are completed as follows:
Name(s) shown on returnfield contains Eileen Johnson
Your social security numberfield contains 123-00-4567
Part I: Income or Loss From Rental Real Estate and Royalties:
1A. Show the kind and location of each rental real estate propertyfield contains
2A. For each rental real estate property listed on line 1, did you or your family use it during the tax year for personal purposes for more than the greater of 14 days or 10% of the total days rented at fair rental value? (See page E-3.) Nocheckbox checked
Income:
3. Rents received
Properties Afield contains 8,250
Totals (Add columns A, B, and C.)field contains 8,250
Expenses:
9. Insurance--Properties Afield contains 92
12. Mortgage interest paid to banks, etcetera. (see page E-4)
Properties Afield contains 1,650
Totals (Add columns A, B, and C.)field contains 1,650
14. Repairs--Properties Afield contains 297
16. Taxes--Properties Afield contains 1,100
19. Add lines 5 through 18
Properties Afield contains 3,139
Totals (Add columns A, B, and C.)field contains 3,139
20. Depreciation expense or depletion (see page E-4)
Properties Afield contains 1,587
Totals (Add columns A, B, and C.)field contains 1,587
21. Total expenses. Add lines 19 and 20field contains 4,726
22. Income or (loss) from rental real estate or royalty properties. Subtract line 21 from line 3 (rents) or line 4 (royalties). If the result is a (loss), see page E-4 to find out if you must file Form 6198field contains 3,524
24. Income. Add positive amounts shown on line 22. Do not include any lossesfield contains 3,524
26. 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 Form 1040, line 17. Otherwise, include this amount in the total on line 40 on page 2field contains 3,524