18a 18b Cat. No. 10136Z Form 8825 Rev. 9-2017 Page see below for list E F G H Allowable Codes for Type of Property 1 Single Family Residence 2 Multi-Family Residence 3 Vacation or Short-Term Rental 4 Commercial 5 Land 6 Royalties 7 Self-Rental 8 Other include description with the code on Form 8825 or on a separate statement Rev. 9-2017 General Instructions Section references are to the Internal Revenue Code. Form Rev. September 2017 Rental Real Estate Income and Expenses of a Partnership or an S...Corporation Department of the Treasury Internal Revenue Service Employer identification number Name OMB No. 1545-0123 Attach to Form 1065 Form 1065-B or Form 1120S. Go to www.irs.gov/Form8825 for the latest information. Show the type and address of each property. Complete lines 1 through 17 for each property. But complete lines 18a through 21 on only one Form 8825. Extraterritorial Income Exclusion in the 1120S. 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 of the following. Future Developments For the latest information about developments related to Form 8825 and its instructions such as legislation enacted after they were published go to www.irs.gov/Form8825. Purpose of Form Form 8825 to report income and deductible expenses from rental real loss from rental real estate activities that flow through from partnerships estates or trusts. Specify...the type of property by entering one of the following codes in the Type column. Codes code on Form 8825 or on a separate statement For each property enter the number of days rented at fair rental value and days with personal use. For each rental real estate property listed report the number of days rented at fair rental value and days with personal use. See instructions. See page 2 to list additional properties. Physical address of each property street city state ZIP code Type Enter code 1 8 see...page 2 for list Fair Rental Days Personal Use Days A B C D Properties 2 Gross rents. Advertising. Auto and travel. Cleaning and maintenance. Commissions. Insurance. Legal and other professional fees Interest. Repairs. Taxes. Utilities. Wages and salaries. Depreciation see instructions Other list 16 Total expenses for each property. Add lines 3 through 15. 17 Income or loss from each property. Subtract line 16 from line 2. 18a Total gross rents. Add gross rents from line 2 columns A through H. 19...Net gain loss from Form 4797 Part II line 17 from the disposition of property from rental real estate activities. 20a Net income loss from rental real estate activities from partnerships estates and trusts in which this partnership or S corporation is a partner or beneficiary from Schedule K-1. b Identify below the partnerships estates or trusts from which net income loss is shown on line 20a* Attach a schedule if more space is needed* 20a 21 Net rental estate income loss. Combine lines 18a...through 20a* Enter the result here and on Form 1065 or 1120S Schedule K line 2 or Form 1065-B Part I line 4 For Paperwork Reduction Act Notice see instructions.
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Instructions and Help about IRS 8825
How to edit IRS 8825
You can edit IRS 8825 using pdfFiller, which provides tools for modifying the form directly. Start by uploading the form to your pdfFiller account. Utilize the editing features to make necessary changes, and ensure that all information is accurate and up-to-date before finalizing your submission.
How to fill out IRS 8825
Filling out IRS 8825 involves several steps to ensure compliance with tax regulations. Start by gathering relevant information about your rental properties and income sources. Complete each section of the form according to IRS guidelines, providing accurate data regarding expenses, income, and property details. Review the form for any errors before submission.
About IRS 8 previous version
What is IRS 8825?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 8 previous version
What is IRS 8825?
IRS 8825 is the form used by partnerships and S corporations to report income and expenses from rental real estate activities. It is essential for filers who earn rental income from properties held in a partnership or S corp. Understanding its structure and requirements is crucial for accurate tax reporting.
What is the purpose of this form?
The purpose of IRS 8825 is to provide the IRS with details about the rental income received and the associated expenses incurred by partnerships or S corps. This form enables the proper calculation of taxable income from real estate ventures, ensuring compliance with U.S. tax laws.
Who needs the form?
Partnerships and S corporations that derive income from rental real estate must file IRS 8825. This includes entities that manage properties for others or own properties and earn rental income. Individuals operating as sole proprietors do not use this form; instead, they report rental income on Schedule E of their personal tax returns.
When am I exempt from filling out this form?
You may be exempt from filling out IRS 8825 if your entity does not engage in rental real estate activities or if the rental income generated is classified under different tax reporting requirements. Additionally, if you qualify as a certain type of entity or meet specific IRS criteria, you may not need to file this form.
Components of the form
The IRS 8825 consists of multiple sections, including details about the entity, property information, gross rents, expenses, and net income. Each component must be accurately completed to reflect the financial state of your rental activities. Key sections include income reporting and expense deductions that can affect overall tax liability.
What are the penalties for not issuing the form?
Failing to file IRS 8825 when required may lead to penalties imposed by the IRS. These penalties can include monetary fines and potential delays in processing other tax documents, which could create additional financial strain. Compliance is essential to avoid these issues, as timely filing helps maintain good standing with tax authorities.
What information do you need when you file the form?
When preparing to file IRS 8825, gather information such as your partnership or S corp's name, Employer Identification Number (EIN), property addresses, income received from each property, and detailed expense documentation. Accurate record-keeping of rental activities is critical to completing this form successfully.
Is the form accompanied by other forms?
IRS 8825 may be filed alongside other forms depending on your entity type and tax situation. For example, partnerships may also submit Form 1065 or K-1 along with IRS 8825 to provide a comprehensive overview of income and deductions. Always refer to IRS guidelines to determine the specific forms that need to accompany IRS 8825.
Where do I send the form?
After completing IRS 8825, submit it to the appropriate IRS address based on your business location. The submission requirement may vary, so always consult the latest IRS instructions regarding where to send your completed form. Ensuring it reaches the correct destination is vital for avoiding delays in processing.
FAQ about IRS 8825
What should I do if I need to amend my IRS Form 8825 after submission?
If you discover an error after submitting your IRS Form 8825, you can file an amended return. Use the same form, clearly mark it as 'Amended,' and adjust the figures as necessary. It’s crucial to retain copies of any submitted forms for records and to ensure all corrections are documented properly.
How can I verify the status of my filed IRS Form 8825?
To verify the status of your filed IRS Form 8825, you can use the IRS online tracking tool available on their website. Additionally, you can reach out to the IRS directly via phone for updates on processing and any potential issues with your submission.
What are common mistakes to avoid when filing IRS Form 8825?
Common mistakes include inaccurately reporting rental income or expenses, failing to include all necessary information, or neglecting e-signature requirements for electronic submissions. Double-checking figures and ensuring all information aligns with supporting documents can help reduce errors.
Are there service fees associated with e-filing IRS Form 8825?
E-filing IRS Form 8825 may involve service fees, especially if you use third-party software or tax preparation services. It's essential to check the fee structure of the chosen platform as these costs can vary, and consider any potential benefits of faster processing times.
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