Rental Property Organizer
Rental Properties
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- You need to report rental income and expenses if you rented real estate for a profit for more than 14 days during the year. If you had rental income but did not rent property for a profit, you still must report income and expenses but additional rules apply.
- Report income and expenses for each property separately using worksheets A, B, C, D. Do not combine income and expenses for multiple properties.
- If you purchased or sold a rental property during the year, please bring copies of the HUD-1 Settlement Statement and closing papers for each sale, purchase, or refinance.