Schedule E (Form 1040) – Deasy Corporation

2025 Schedule E (Form 1040) – Part 1 – Information

Line	Field	Full Definition / How to Calculate or Find It
A	Payments Requiring Form 1099	Indicates whether you made payments during the tax year that require filing Form 1099 information returns. Generally applies when a rental activity paid $600 or more to certain nonemployees, contractors, or service providers.
B	Required 1099s Filed	Indicates whether the Forms 1099 required by Line A were filed or will be filed. Completed only if Line A applies.
1a	Physical Address of Property	Full street address, city, state, and ZIP code of each rental property being reported on Schedule E. A separate row is used for each property.
1b	Type of Property	IRS classification code describing the rental property. Codes include single-family residence, multi-family residence, vacation rental, commercial property, land, royalties, self-rental, or other property type.
2	Fair Rental Days	Number of days during the tax year the property was rented at fair rental value to tenants. Used to determine rental-use percentage and certain deduction limitations.
2	Personal Use Days	Number of days during the tax year the property was used personally by the owner, family members, or other non-paying users. Used to determine whether the property is treated as a rental, personal residence, or mixed-use property.
QJV	Qualified Joint Venture Election	Checkbox indicating that spouses who jointly own and operate the rental activity elect Qualified Joint Venture treatment instead of filing as a partnership.

2025 Schedule E (Form 1040) – Part 1 – Income and Expenses

Line	Field	Full Definition / How to Calculate or Find It	Known Value
3	Rents Received	Total gross rent collected from tenants during the tax year before deducting any expenses. Includes monthly rent, advance rent, and tenant-paid amounts that are rental income.
4	Royalties Received	Gross royalty income received from mineral rights, oil and gas interests, copyrights, patents, trademarks, or similar royalty-producing assets.
5	Advertising	Costs incurred to advertise the rental property for tenants, including online listings, newspaper ads, signs, flyers, and leasing promotions.
6	Auto and Travel	Deductible vehicle and travel expenses directly related to managing, maintaining, or collecting rent from the property. Subject to IRS substantiation requirements.
7	Cleaning and Maintenance	Routine cleaning and maintenance expenses that keep the property in ordinary operating condition without materially improving it.
8	Commissions	Leasing commissions, rental agent commissions, and similar fees paid to secure tenants or manage rental transactions.
9	Insurance	Premiums paid for rental property insurance, landlord insurance, liability coverage, hazard insurance, flood insurance, and similar policies.
10	Legal and Other Professional Fees	Attorney fees, accounting fees, tax preparation fees allocable to the rental activity, consulting fees, and similar professional services.
11	Management Fees	Fees paid to property managers, management companies, or other third parties for operating and administering the rental property.
12	Mortgage Interest Paid to Banks, etc.	Interest portion of mortgage payments on debt secured by the rental property. Generally obtained from Form 1098 and lender records.
13	Other Interest	Interest expenses not reported on Line 12, such as interest on rental-related loans, credit lines, or financing not secured by the property.
14	Repairs	Costs that restore property to working condition without materially increasing value, extending useful life, or adapting the property to a new use.
15	Supplies	Consumable items and small materials used in operating or maintaining the rental property.
16	Taxes	Real estate taxes, local property taxes, and other deductible taxes imposed on the rental property.
17	Utilities	Utility expenses paid by the owner, including electric, gas, water, sewer, trash, and similar services provided to the rental property.
18	Depreciation Expense or Depletion	Annual depreciation deduction for the building and depreciable assets used in the rental activity, calculated under IRS depreciation rules.
19	Other Expenses	Deductible rental expenses not specifically listed on Lines 5–18. Must be identified and described separately.
20	Total Expenses	Sum of Lines 5 through 19 for the property.	Calculated
21	Income or Loss	Line 3 plus Line 4 minus Line 20. Represents net rental or royalty income before loss limitation rules.	Calculated
22	Deductible Rental Real Estate Loss After Limitation	Rental loss allowed after applying passive activity and other IRS loss limitation rules, including Form 8582 if required.	Calculated
23a	Total Rents Received (All Properties)	Sum of Line 3 amounts from all rental properties reported on Schedule E.	Calculated
23b	Total Royalties Received (All Properties)	Sum of Line 4 amounts from all royalty properties reported on Schedule E.	Calculated
23c	Total Mortgage Interest (All Properties)	Sum of Line 12 amounts from all properties.	Calculated
23d	Total Depreciation (All Properties)	Sum of Line 18 amounts from all properties.	Calculated
23e	Total Expenses (All Properties)	Sum of Line 20 amounts from all properties.	Calculated
24	Income	Total positive income amounts from Line 21. Do not include losses.	Calculated
25	Losses	Total deductible losses from royalty activities and rental real estate activities after applicable limitations.	Calculated
26	Total Rental Real Estate and Royalty Income (Loss)	Net result after combining Lines 24 and 25. This amount generally flows to Schedule 1 (Form 1040), Line 5.	Calculated

2025 Schedule E (Form 1040) – Part 2 – Income and Loss from Partnerships and S Corporations

Line	Field	Full Definition / How to Calculate or Find It	Known Value
27	Prior-Year Disallowed Losses / At-Risk / Passive Activity Losses	Indicates whether you are reporting losses that were disallowed in prior years due to basis limitations, at-risk limitations, passive activity limitations, or unreimbursed partnership expenses. If yes, additional forms and calculations may be required.
28(a)	Partnership or S Corporation Name	Legal name of each partnership or S corporation from which income, loss, deductions, or credits are reported. Usually obtained from Schedule K-1.
28(b)	Entity Type	Enter “P” for partnership or “S” for S corporation. Identifies the type of pass-through entity issuing the Schedule K-1.
28(c)	Foreign Partnership Indicator	Checkbox indicating that the entity is a foreign partnership rather than a domestic U.S. partnership.
28(d)	Employer Identification Number (EIN)	Federal Employer Identification Number of the partnership or S corporation. Found on Schedule K-1.
28(e)	Basis Computation Required	Checkbox indicating that a basis limitation calculation is required before losses can be deducted. Common when reporting losses, distributions, or stock dispositions.
28(f)	Amount Not At Risk	Checkbox indicating that any portion of the reported loss is not considered at risk under IRS at-risk rules. May require Form 6198.
28(g)	Passive Loss Allowed	Deductible passive activity loss allowed for the entity after application of passive activity limitation rules. May require Form 8582.
28(h)	Passive Income	Passive income reported from the entity. Generally taken from Schedule K-1 and subject to passive activity rules.
28(i)	Nonpassive Loss Allowed	Deductible nonpassive loss allowed from the entity. Generally determined from Schedule K-1 and related limitation calculations.
28(j)	Section 179 Expense Deduction	Section 179 deduction passed through from the entity. Usually reported on Schedule K-1 and subject to separate limitations.
28(k)	Nonpassive Income	Nonpassive income reported from the partnership or S corporation. Generally taken directly from Schedule K-1.
29a	Total Passive Losses / Passive Income / Nonpassive Losses / Section 179 / Nonpassive Income	Totals of columns (g) through (k) for all entities listed on Lines 28A–28D.	Calculated
29b	Total Passive Losses / Passive Income / Nonpassive Losses / Section 179 / Nonpassive Income (Additional Totals)	Additional totals required when more than one continuation schedule is used.	Calculated
30	Total Partnership and S Corporation Income	Sum of passive income and nonpassive income columns from Line 29a. Represents total positive income from all reported entities.	Calculated
31	Total Partnership and S Corporation Losses	Sum of passive losses, nonpassive losses, and Section 179 deductions from Line 29b. Represents total deductible losses from all reported entities.	Calculated
32	Total Partnership and S Corporation Income (Loss)	Net result of Lines 30 and 31. Represents total partnership and S corporation income or loss that flows to the next stage of Schedule E calculations.	Calculated

2025 Schedule E (Form 1040) – Part 3 – Income or Loss from Estates and Trusts

Line	Field	Full Definition / How to Calculate or Find It	Known Value
33(a)	Estate or Trust Name	Legal name of the estate or trust issuing Schedule K-1 income, deductions, credits, or losses. Usually taken directly from Schedule K-1 (Form 1041).
33(b)	Employer Identification Number (EIN)	Federal EIN of the estate or trust. Found on Schedule K-1 issued by the fiduciary.
33(c)	Passive Deduction or Loss Allowed	Deductible passive loss or deduction from the estate or trust after application of passive activity loss rules. Form 8582 may be required.
33(d)	Passive Income from Schedule K-1	Passive income allocated from the estate or trust and reported on Schedule K-1. Subject to passive activity rules.
33(e)	Deduction or Loss from Schedule K-1	Nonpassive deduction or loss allocated from the estate or trust and reported on Schedule K-1.
33(f)	Other Income from Schedule K-1	Nonpassive income allocated from the estate or trust and reported on Schedule K-1. Includes taxable income items that are not treated as passive.
34a	Total Passive Losses, Passive Income, Deductions, and Other Income	Total of columns (c) through (f) for all estates and trusts listed on the current Schedule E page.	Calculated
34b	Additional Totals from Continuation Pages	Additional totals when more than one Schedule E continuation page is used for estates and trusts.	Calculated
35	Total Estate and Trust Income	Sum of columns (d) and (f) from Line 34a. Represents total positive income received from estates and trusts.	Calculated
36	Total Estate and Trust Deductions and Losses	Sum of columns (c) and (e) from Line 34b. Represents deductible losses and deductions from estates and trusts.	Calculated
37	Total Estate and Trust Income (Loss)	Net result of Lines 35 and 36. Represents total estate and trust income or loss flowing to the overall Schedule E calculation.	Calculated

2025 Schedule E (Form 1040) – Part 4 – Income or Loss from Real Estate Mortgage Investment Conduits (REMICs) – Residual Holder

Line	Field	Full Definition / How to Calculate or Find It	Known Value
38(a)	REMIC Name	Name of the Real Estate Mortgage Investment Conduit issuing Schedule Q.
38(b)	Employer Identification Number	EIN of the REMIC. Found on Schedule Q.
38(c)	Excess Inclusion	Excess inclusion income from Schedule Q, Line 2c. This is a special REMIC income item with separate tax treatment.
38(d)	Taxable Income or Net Loss	Taxable income or net loss from Schedule Q, Line 1b.
38(e)	Income from Schedule Q	Income from Schedule Q, Line 3b.
39	Total REMIC Income	Combine only columns 38(d) and 38(e). Enter the result on Line 39 and include it in Line 41.	Calculated

2025 Schedule E (Form 1040) – Part 5 – Summary

Line	Field	Full Definition / How to Calculate or Find It	Known Value
40	Net Farm Rental Income (Loss)	Net farm rental income or loss reported from Form 4835. Used when receiving rental income from farmland under arrangements where the owner does not materially participate in farming operations. Also flows into the overall Schedule E total.
41	Total Income (Loss)	Combined result of Lines 26, 32, 37, 39, and 40. Represents total Schedule E income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, and farm rentals. This amount flows to Schedule 1 (Form 1040), Line 5.	Calculated
42	Reconciliation of Farming and Fishing Income	Enter gross farming and fishing income reported through Form 4835, Schedule K-1 (Form 1065), Schedule K-1 (Form 1120-S), and Schedule K-1 (Form 1041). Used to reconcile qualified farming and fishing income reported elsewhere on the return.
43	Reconciliation for Real Estate Professionals	If classified as a real estate professional under IRS rules, enter the net income or loss from rental real estate activities in which you materially participated. Used to reconcile passive activity treatment and real estate professional status.