Cat. No. 11344L Schedule E Form 1040 2015 Attachment Sequence No. 13 Page 2 Caution. The IRS compares amounts reported on your tax return with amounts shown on Schedule s K-1. About Schedule E and its separate instructions is at www.irs.gov/schedulee. Information Attachment Sequence No. 13 Your social security number Income or Loss From Rental Real Estate and Royalties Note If you are in the business of renting personal property use Schedule C or C-EZ see instructions. If you are an...
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Who needs IRS Form 1040 Schedule E?

Schedule E is usually used in conjunction with Form 1040 and accounts for supplemental income and loss. Therefore, everyone who received income from real estate, royalties, S corporations or partnerships should report it on Schedule E.  

What is IRS 1040 Schedule E for?

Schedule E serves to report income received from real estate, trusts, residual interest and other areas or to inform the IRS about the loss of earnings that occurred in any of the above-mentioned areas.

Is IRS 1040 Schedule E Accompanied by other Forms?

In conjunction with Form 1040, Schedule E usually accompanies the tax return and doesn't require any other attachments. But there are some forms that you may be asked to file alongside Schedule E. These are From 1040 Schedule A, or Forms 3520, 4562, 4684, 4797, 6198 etc. You can find the full list of forms on the IRS official website in the instructions for Schedule E.

When is IRS Form 1040 Schedule E Due?

Schedule E is submitted together with Form 1040 that is on April 15th every year. However, in 2017 the tax day falls on April 18th because of the holidays.

How do I Fill out IRS Form 1040 Schedule E?

Schedule E is a two-page form with 4 parts to be completed:

  • Part 1 accounts for income or loss from real estate and royalties. In this part provide the address of the property, its type, the expenses it took you to maintain the property, income it has brought you, and losses you’ve suffered
  • Part 2  accounts for income and losses from partnership and S corporations. The fields in this part are to be completed with the detailed figures of passive and non-passive income and loss
  • Part 3 requires data about income and loss from estates and trusts
  • Part 4 accounts for real estate mortgage investments conduits
  • Part 5 gives a summary of income and loss reported both in Schedule E and in Form 1040.

Where do I Send Form 1040 Schedule E?

Once done, Schedule E is sent to the IRS together with Form 1040.

Greetings and welcome back to the accounting 2520 tax return video series in this video we are going to look at preparing Schedule II we are going to continue with Juan Alonso but let's say use a little bit different information so let's in say instead of being single at the end of the year he got married to Rosa during August so Rosa owns a rental house in st. George she did not use the property for personal purposes although it was vacant for two months she had the following income 14,000 350 cleaning of spent 43 thousand dollars mortgage interest 7800 real estate taxes of 2400 and utilities of 1825 roast is also an author and she received 2,500 in royalties and she incurred a thousand dollars in legal fees connected with that royalty income so let's go ahead and go to a schedule ii both of these items rental property and royalties belong on Schedule II so when we pull up the schedule ii we start with the taxpayer name now i realize that i just said that Rosa owns the rental property and the income but one is actually the taxpayer shown on the tax return so we provide wands information on line one then we can begin filling out schedule ii we put the address of the physical property which is a made-up address of course did you make any payments no didn't require filing forms 1099 you always want to answer those questions type of property let's assume it's a single family residence it could have been a vacation or short term rental commercial so forth so the type of property comes from this section and then our fair rental days remember it was vacant for two months so 305 days rather than 365 and personal use days were 0 so then we can continue on and prepare the income and expense section so we've got rents received and we were told in our data set that rental income was fourteen thousand 350 and line to line four is royalties received and actually we know that she had royalty income we'll come back to that in a moment then we go expenses she had cleaning expenses of three thousand dollars she had mortgage interest of seventy eight hundred and let's see she had Texas of 2400 and then utilities of 1825 now like the schedule see there are multiple expenses types that are shown here and then anything not listed there is line 19 which is other you list the type and then of course the amount line 18 is for depreciation we will assume that this property is fully depreciated and we will talk specifically about depreciation in a later chapter so now we get to total expenses we total those up and we have expenses of 15,000 $25 we subtract that and we get a loss of 675 now we will talk about at risk in a later chapter but for now we will assume that everything is at risk then we have to look at form 85-82 because this is a loss so that particular form will be prepared in a separate video but let's make the assumption right now that we will be able to deduct the 675 loss on this property and then line 23 starts on all the total so before we can do that we...

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Please select a version for Fillable IRS 1040 - Schedule E form
  • 2018 IRS 1040 - Schedule E Fillable
  • 2017 IRS 1040 - Schedule E Fillable
  • 2016 IRS 1040 - Schedule E Fillable
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  • 2014 IRS 1040 - Schedule E Fillable
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