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League City Texas Form 8825: What You Should Know

CASH ISSUES NOT INCLUDED IN BOX A net income for the taxable year should be determined by multiplying the amount in box 13 by the following: Box 13 × 50 × 0.10 × A plus 40,000 If the company is not required to file Form 8825 a Form 1065 should be completed and filed on Schedule K. If any of the items in box 13 are not included in the gross income, the amount is zero. Cash Issues in Box A Cash issues in Box A included but are not limited to, items of compensation (in excess of 1) not attributable to rental real estate activities for which a deduction is made under section 162 (b). Rental Real Estate Income Tax Schedule A (with Schedule C and Schedule K) The total amounts reported in box 13 of Schedule K and the amounts shown in box 13 of Schedule C are determined without this schedule. When the amounts in box 13 of Schedule K and boxes 13 of Schedule C are the same or substantially the same, the gross income for that taxable year is calculated using the Schedule A total amounts reported in box 13 of Schedule K. The gross income is the gross income reported in box 13 of Schedule K, adjusted for any deductions, and the amount reported in box 13 of Schedule C less the amount reported on Schedule C. When the amounts in boxes 13 of Schedule K and boxes 13 of Schedule R are the same or substantially the same, the gross income for the taxable year is calculated using the Schedule A totals reported in box 13 of Schedule R and the amounts on Schedule R less the amount shown on Schedule R. Form 8825 Schedule A If the rental revenue is more than 1,500 for the tax year, line 11 of Schedule K should show a zero amount, but it should show a negative number for any amount in section 2d. In this situation, the amount shown on line 11 of Schedule K and the net income for this year are the same. The amount reported on line 11 of Schedule K does not apply to this year even though it was reported in previous years. For the portion of expenses attributable to rental real estate activities that are not included in the gross income, enter the total amount. If the total amount of expenses not included in gross income is 20 or less, the total amount entered in box 13 of Schedule K is zero.

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