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RENTAL INCOME TAX WORKSHEET
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ITEMAMOUNT
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Rental Income
$14,400.00
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Other Income
$0.00
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Total Income
$14,400.00
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Advertising & marketing
$0.00
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Leasing commission
$0.00
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Property management fee
$1,440.00
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Repairs & maintenance
$1,250.00
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Materials & supplies
$350.00
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Utilities$0.00
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Insurance
$400.00
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HOA dues
$0.00
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Mortgage interest
$3,350.00
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Property tax
$2,700.00
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Professional fees
$250.00
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Licenses and permits
$45.00
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Travel$600.00
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Other$0.00
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Total Expenses
$10,385.00
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Sub Total Profit/Loss
$4,015.00
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Taxable Net Income before Depreciaiton
$963.60
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Depreciation expense
$5,091.00
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Taxable Net Income after Depreciation
-$1,076.00
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Federal Income Tax Bracket
24%
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(2021 Federal Income Tax brackets from the Tax Foundation)
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Rental Income Tax Due
-$258.24
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