Schedule E (Form 1040) Supplemental Income and Loss 2010

Summary: This is an example of Schedule E (Form 1040) 2010 as pertains to the example in the text. The line items are completed as follows:

Name(s) shown on return field contains Marie Pfister
Your social security number field contains 444-00-888
Under Part I: Income or Loss From Rental Real Estate and Royalties:
- 1A. Show the kind and location of each rental real estate property field contains
- - Rental House
  - 444 Maple Ave., Anywhere, WI 55555
- 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.) No checkbox checked
- Under Income:
- - 3. Rents received
  - - Properties A field contains 13,500
  - Totals (Add columns A, B, and C.) field contains 13,500
- Under Expenses:
- - 7. Cleaning and maintenance--Properties Afield contains 200
  - 9. Insurance--Properties A field contains 250
  - 12. Mortgage interest paid to banks, etcetera. (see page E-5). Properties A8,000
  - - Totals (Add columns A, B, and C.) field contains 8,000
  - 14. Repairs--Properties A field contains 400
  - 16. Taxes--Properties A field contains 500
- 19. Add lines 5 through 18
- - Properties A field contains 9,350
  - Totals (Add columns A, B, and C.) field contains 9,350
- 20. Depreciation expense or depletion (see page E-5)
- - Properties A field contains 4,363
  - Totals (Add columns A, B, and C.) field contains 4,363
- 21. Total expenses. Add lines 19 and 20 field contains 13,713
- 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-5 to find out if you must file Form 6198 field contains (213)
- 23. Deductible rental real estate loss. Caution. Your rental real estate loss on line 22 may be limited. See page E-5 to find out if you must file Form 8582. Real estate professionals must complete line 43 on page 2.field contains (213)
- 25. Losses. Add royalty losses from line 22 and rental real estate losses from line 23. Enter total losses here. field contains (213)
- 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, or Form 1040NR, line 18. Otherwise, include this amount in the total on line 41 on page 2 field contains (213)

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