Your rental shows a loss. How much might you actually deduct?
Rental income and expenses are only part of the picture. How the property is used, your participation, and personal-use days can affect the result.
Begin with the simple selections, then enter income and expenses in Schedule E order. Review rental classification, income or potentially deductible loss, carryforwards, and depreciation on the included worksheets and dashboard. Where personal use applies, review expense portions that may qualify for Schedule A treatment.
A personal portion is not an automatic itemized deduction. Other eligibility rules and limits may apply, and a planning loss is not necessarily fully deductible on your return.
A good fit if: You want to understand how rental use and participation affect the planning result for one property. Use a separate workbook for each property. This estimates rental deductions, not your complete household tax bill.
Designed for desktop Excel. A phone preview is not the working calculator. Download help: taxademicstoolkits.com/workbook-help.
Educational planning estimates; not tax preparation or individualized tax or legal advice.
Your rental shows a loss. How much might you actually deduct?
Rental income and expenses are only part of the picture. How the property is used, your participation, and personal-use days can affect the result.
Begin with the simple selections, then enter income and expenses in Schedule E order. Review rental classification, income or potentially deductible loss, carryforwards, and depreciation on the included worksheets and dashboard. Where personal use applies, review expense portions that may qualify for Schedule A treatment.
A personal portion is not an automatic itemized deduction. Other eligibility rules and limits may apply, and a planning loss is not necessarily fully deductible on your return.
A good fit if: You want to understand how rental use and participation affect the planning result for one property. Use a separate workbook for each property. This estimates rental deductions, not your complete household tax bill.
Designed for desktop Excel. A phone preview is not the working calculator. Download help: taxademicstoolkits.com/workbook-help.
Educational planning estimates; not tax preparation or individualized tax or legal advice.
Watch the Rental Tax Planning Toolkit in action. Follow example inputs through to the dashboard, and use full screen to see the whole worksheet. Illustrative figures only; your results depend on your entries.
