Schedule A/B (Property)

Schedule A/B (Property) is a section of a tax form used to report income and expenses related to rental properties. Schedule A records income received from renting out property, such as rent payments. Schedule B details the expenses associated with maintaining and managing those properties, like repairs, property management fees, and mortgage interest. Properly completing these schedules helps taxpayers accurately report rental income and claim allowable expenses, ensuring compliance with tax laws and potentially reducing taxable income derived from rental activities.