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Video instructions and help with filling out and completing 1041 Instructions Schedule E

Instructions and Help about 1041 Instructions Schedule E

Hi this is John with PDF Tex this is Schedule II which is the form that you would use if for example you had a rental house and that's what we're going to look at today to see how that form works if you had a rental house so we're going to say that we have a taxpayer here Sam Smith and will enter his social and we're going to say that Sam purchased a rental house in June of 2022 and he collected $2,000 per month from June to December so he collected a total of twelve thousand dollars rent on his rental house we'll put that right there but we need to answer these questions here did he have payments which would require 1099 we'll say well say no he didn't but we need to we can also need to add a address here so we'll just make up some a dress like that whoops I guess we need a city - huh there we go and now we need to enter this information the type of property from the list below the list is right here and this is a single-family residence so we'll enter a one right here for type of property and then they want to know how many days was that rented so if it was rented from June to December that would be 180 days and there was no personal use days and this box doesn't apply so we'll leave that alone now we need to enter some expenses for this which goes on these lines down here so he probably had insurance that he paid her nuns well you know I've had insurance but mortgage interests that he that he paid when he bought the house so let's suppose that he had...

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