IRS 8825 2002 free printable template

Complete lines 1 through 16 for each property. But complete lines 17 through 21 on only one Form 8825. Extraterritorial Income Exclusion in the Lines 1 through 21. Form 8825 provides space for up to eight properties. The figures on lines 17 and 18 should be the combined totals of all forms. Do not report on Form 8825 any Income or deductions from a trade or business activity or a rental activity other than Portfolio income or deductions. Purpose of form. Partnerships and S corporations use...

• Who needs Form 8825?
• What is the purpose of Form 8825?
• What documents must accompany Form 8825?
• When is Form 8825 due?
• • What information should be provided in the Form 8825?
  • What do I do with the form after its completion?

If you have a question about a particular form, or just want to know which office or organization is responsible for what, refer to the following websites for guidance: .... If the following is the “correct” method of repayment of debt (not necessarily what you'd actually use), try using the credit or “credit balance” portion of it: ...... 0.25% or less — This is an easy way, but it doesn't work if the amount repaid isn't large enough. 0.75% or less — This is a better “standard” method. The more interest you owe, the less you must repay (or the higher percentage you must repay). This is the method I used in the early stages of my debt repayment and used for years after that (I still got it right though). 5.75% (this is the “credit balance” method of repayment. Some people report using this. You can be pretty sure they're using this, since “credit balance” has been the one method, over and over, where I've found it to be the least accurate). I don't recommend using the first two. You'll want to pay the minimum, then start making your payments on time, and eventually you'll have to pay more. Don't use the credit balance method if you're going to pay something from your savings (such as by putting money into a savings account when your paycheck is coming in). 6.0% or more — This is a much more accurate method. If you have a large lump sum of money, you need to pay more each month than you have saved (for a total of at least three times that amount) in order to make your debt payment on time. Paying six times that amount each month isn't realistic, but if it's just a few hundred dollars each month (and that's not going to stop you), it will at least give you the option to pay in small increments. So for example: .... I had an interest rate of 3%, and it added up to 80.25 each month. .... For that amount, I paid 6.00 each month (6% x 48 = 320.) When I started, I owed 50K. ....

Who needs Form 8825?

This form is completed by partnerships and S corporations to report income, expenses, and deductible expenses from various real estate activities. For example, if a partnership or S corporation owns an apartment building and rents out apartments in it to individuals or other business entities, it should complete this form.

What is the purpose of Form 8825?

This IRS form is used to report the rental income of the partnerships and S corporations. The information is essential for a tax return and IRS officials will use it to calculate the amount of tax the partnership or S corporation should pay for a specific fiscal year.

What documents must accompany Form 8825?

This schedule is attached to Form 1065, Form 1065-B (Return of Partnership income) or Form 1120S (Corporation Income Tax return) depending on the type of the business.

When is Form 8825 due?

This form should be filed with the IRS when it is time to submit the related tax forms, 1065 or 1120S. The estimated time for completing this form is two hours. More time is required to collect all the necessary information and to file the form with the IRS.

What information should be provided in the Form 8825?

The taxpayer should add the following information:

• Name of the taxpayer
• Employer identification number
• Address of the property
• Rental real estate income (gross rents)
• Rental real estate expenses (advertising; auto and travel; insurance; taxes; wages and salaries; legal and other professional fees; cleaning and maintenance; commissions)
• Type of real estate property (single family residence; multi-family residence; commercial; land, etc.)

What do I do with the form after its completion?

The completed form should be filed with the local IRS office together with other required forms and schedules.

 

People Also Ask about

Does form 8825 flow to 1065?

You must enter the amount from the gain or loss that is attributable to business property used in rental real estate activities on the 8825 Worksheet line 18. This amount will then flow to Form 8825, line 19, and it will no longer report on Form 1065, line 6.

What is Form 8825 from K-1?

Form 8825 is used by partnerships and S corps to report income and deductible expenses from rental real estate activities. It is also used to report net income or loss from rental real estate activities reported to the partnership or S corp on Schedule K-1 from a partnership or an estate or trust.

Is Form 8825 part of 1065?

If you want to associate the rental activity with guaranteed payments, the rental real estate income must be reported on Form 8825 Rental Real Estate Income and Expenses of a Partnership or an S Corporation.

What is Form 8825 used for?

Partnerships and S corporations use Form 8825 to report income and deductible expenses from rental real estate activities, including net income (loss) from rental real estate activities that flow through from partnerships, estates, or trusts.

Is Form 8825 the same as schedule E?

Form 8825 is very similar to the Schedule E that an individual owner with sole title would use to file their rental income taxes.

What is form 8825 in 1065?

For 1120S and 1065 returns, two forms are available for entry of rental income: The 8825 screen is used to enter income and expenses from rental real estate. The RENT screen is used to enter rental income from sources other than real estate, such as equipment rental.

For pdfFiller’s FAQs

What is form 8825?

Form 8825 is a tax form used by individuals, partnerships, corporations, and trusts to report rental real estate income and expenses.

Who is required to file form 8825?

Individuals, partnerships, corporations, and trusts who receive rental income from real estate properties are required to file form 8825.

How to fill out form 8825?

To fill out form 8825, you need to provide details about the rental income, expenses, and property information. This includes rental income, depreciation, repairs and maintenance, and any other relevant expenses related to the rental real estate.

What is the purpose of form 8825?

The purpose of form 8825 is to report rental real estate income and expenses, allowing taxpayers to accurately calculate their taxable income from rental properties.

What information must be reported on form 8825?

Form 8825 requires information such as the names and addresses of the property owners, rental income, depreciation expenses, repairs and maintenance expenses, and any other relevant expenses related to the rental real estate.

When is the deadline to file form 8825 in 2023?

The deadline to file form 8825 in 2023 is determined by the tax filing due date, which is typically April 15th. However, it is always recommended to check with the IRS or a tax professional for the exact deadline in a given year.

What is the penalty for the late filing of form 8825?

The penalty for the late filing of form 8825 can vary depending on the specific circumstances. It is generally advisable to file the form on time to avoid potential penalties and interest charges. For specific penalty amounts, it is recommended to consult the IRS guidelines or seek professional guidance.

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