IRS 8825 2010 free printable template

Complete lines 1 through 17 for each property. But complete lines 18a through 21 on only one Form 8825. These items are reported elsewhere. Portfolio income or deductions. Specific Instructions. Form 8825 provides space for up to eight properties. The figures on lines 18a and 18b should be the combined totals for all forms. Do not report on Form 8825 any Income or deductions from a trade or business activity or a rental activity other than rental real estate. Specify the type of property by...

How to fill out form 8825 2010

How to fill out form 8825 2010?

1. Begin by entering your name, social security number, and address in the appropriate sections at the top of the form.
2. Provide the name, address, and employer identification number of the partnership or corporation that owns the property for which you are reporting rental income.
3. Indicate the type of entity (partnership, corporation, or trust) that owns the property.
4. Enter the dates when the property was placed in service and when it was sold, if applicable.
5. Report the total rental income received for the property during the tax year.
6. Deduct any rental expenses that you incurred, such as mortgage interest, property taxes, insurance, repairs, and maintenance.
7. Calculate the net rental income or loss by subtracting the total expenses from the rental income.
8. Determine whether you meet the criteria for active participation in the rental activity, and if so, enter the appropriate code.
9. Provide details about any rental real estate that you materially participated in during the tax year, including the number of hours you spent on each property.
10. Attach any additional schedules or forms that are required to support the information provided on form 8825.
11. Sign and date the form, and include your daytime phone number.

Who needs form 8825 2010?

1. Individuals who own rental real estate and generate rental income from it.
2. Partnerships or corporations that own rental properties and need to report the rental income and expenses.
3. Those who materially participate in rental activities and need to report their involvement and expenses.

• 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?

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.

 

Instructions and Help about form 8825 2010

Hey and welcome to today's video blog my name is Mike whit beck from the under a guy calm so today's topic is using the eighty-eight twenty-five to offset mortgage payments let's take a look we're going to go over today so Fannie Mae guidelines be 3-3 108 or talk about rental income one of those forms of income is when what is the 25 when you can consider it okay, so we're going to review that you know how does it apply to 1065 you 11 20s or the 1120 next we're going to calculate how to calculate from he 25 what's the math and then what do you do with the income after you figured it from the 825 it is different from RED, so it's a little tricky so working over that, and I'm going to show you a quick tool that you can use online it's free we're going to be some free files for it to calculate real income loss, and we're just going to wrap it up alright let's get started right away with the training okay get the train started let's talk about the most important thing when can you consider that eighty twenty-five this process is only when a borrower is personally obligated to a mortgage that is in owned inside a 1065 or a 1120s does not apply anywhere else if you have a borrower that has a 1065 or an 11 20s and has you know an 88 25 there's a forty properties on there or one property it doesn't really matter it does not what we're about to talk about doesn't apply unless that mortgage for one of those properties on the 11:28 I'm sorry on the 88 25 is in the borrower's name that's the very first point if you don't have that this training is not for you okay all right now for this property anything like that so what is the e25 form well then a 25 is pretty much exactly like a Schedule II for a personal I'm going to roll it over on the screen here, so I googled one there real quick and what we have is you know there's a 25 you have the property address you know the phenomenal days' person days like you're doing Schedule E and you can see down your gross rents all a lot of similar stuff that you see on your schedule II so in this other tab I've got a Schedule E and click that up real quick, and you notice you know name of the property what's it for fair rental days you know I'm sorry rents received insurance things you can write off so when you look at these two let me click back DD 825 here very similar to a Schedule E so Bay it's a Schedule E for business days here so let me go ahead and shrink this out of the way so get back to our slides and okay, so that's one eighty twenty-five s we've got more in detail in a minute so when do you see an ad 825 it is only used it is used with the 1065 an LLC or a partnership and or you'll see within 1120s you will not see it within 1120 it's not part of that business entity okay 1120s can own it, but they use a different form you know the IRS says that a t25 only is for the 1065 or 1120s of bottom line, so it's four and so okay now let's get to the next slide and so what do we do now we go when we got a borrower...

People Also Ask about

Is Schedule E same as 8825?

An 8825 form is officially called a Rental Real Estate Income and Expenses of a Partnership or an S Corp. In plain English, it is the company version of the Schedule E rental real estate form we often see.

What is a form 8825 for rental income?

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 Schedule 8825?

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 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.

For pdfFiller’s FAQs

What is form 8825?

Form 8825 is a tax form used by individuals, partnerships, corporations, or estates to report rental real estate income or loss. It is filed with the Internal Revenue Service (IRS) to report the rental income received from commercial properties or other real estate holdings. This form helps the IRS determine the amount of rental income that is subject to taxation. Additionally, it helps the taxpayer report any deductible rental expenses, such as mortgage interest, property taxes, repairs, and maintenance costs.

Who is required to file form 8825?

Individuals or entities who own rental real estate or receive rental income in the ordinary course of business are required to file Form 8825. This form is used to report income and expenses from rental real estate activities. It is typically filed by partnerships, S corporations, limited liability companies (LLCs), and real estate investment trusts (REITs). However, individual real estate owners who meet certain criteria, such as having rental income that exceeds a certain threshold, may also need to file this form.

What is the purpose of form 8825?

Form 8825 is used by individuals or businesses to report income and expenses related to rental real estate properties that they own. The purpose of this form is to calculate and report rental income and determine the deductible expenses associated with the property, such as mortgage interest, property taxes, repairs, and maintenance costs. This form is filed as part of the tax return to accurately report rental income and expenses and determine the taxable income or loss from the rental property.

When is the deadline to file form 8825 in 2023?

The deadline to file Form 8825 for the tax year 2022 (fiscal year beginning in 2022) is generally April 17, 2023. However, it's important to note that tax deadlines can vary, and it's recommended to consult the official IRS website or a tax professional for the most accurate and up-to-date information regarding specific filing deadlines.

What information must be reported on form 8825?

Form 8825 is used to report rental real estate income and expenses. The following information must be reported on Form 8825: 1. Identification Information: The taxpayer's name, address, and Social Security number or employer identification number should be provided. 2. Property Description: A description of the rental property should be included, such as the address and type of property (e.g., residential, commercial). 3. Income: Rental income received from tenants should be reported, including any advance rent payments received. 4. Expenses: Various rental property expenses should be reported, including mortgage interest, property taxes, insurance, repairs and maintenance costs, property management fees, advertising expenses, and utilities. The expenses should be broken down into specific categories. 5. Depreciation: The amount of depreciation for the rental property should be calculated and reported. This is determined based on the property's cost, recovery period, and depreciation method. 6. Net Income or Loss: The difference between rental income and expenses, including depreciation, should be calculated to determine the net income or loss from the rental property. 7. Pass-through entity information: If the rental property is owned through a partnership, LLC, S corporation, or other pass-through entity, additional information about that entity should be provided. 8. Ownership Percentage: If the rental property is owned by multiple owners, the percentage of ownership for each owner should be reported. 9. Changes in Ownership: Any changes in ownership during the tax year, such as the acquisition or disposition of the rental property, need to be recorded. It is important to carefully review the instructions and requirements provided by the Internal Revenue Service (IRS) when completing Form 8825 to ensure accurate reporting.

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

The penalty for late filing of Form 8825, which is used to report rental real estate income and expenses, can vary depending on the circumstances. As of 2021, if the form is filed after the due date without a valid extension, the penalty can range from $215 to $1,075 per month per rental property, with a maximum penalty of 12 months. The specific penalty amount may be determined based on the rental property's gross receipts. It is important to note that these penalty amounts are subject to change, and individuals should refer to the official IRS guidance for the most up-to-date information.

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