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TAX & ACCOUNTING SERVICES
Schedule E
Supplemental Income and Loss (Rentals & Royalties)
Property Rentals
Full Rental:
The entire house is rented out, no portion is used as primary residence.
Things to consider:
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Depreciation Recapture
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Income limitations of Losses
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Only expenses you pay are deductible
Part Rental:
A portion of the house is rented where the whole house is not rented.
Royalties:
Payments to the owners of property for use of that property.(NOT RENTAL)
Royalties often deal with payments for the right to use intellectual property (IP) such as copyrights, patents, and trademarks.
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