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Updated over 1 year ago,
Schedule E and Multiple Properties
I have 9 rental homes which I have been entering seperately on parts A,B & C of three different pages of Schedule E on my Income Taxes. Expenses which are exclusive to a particular house are listed for that house, but with some of the expenses (office supplies, fuel for lawncare, etc) I have been dividing them evenly between each of the houses as they are entered on Schedule E. Is there an easier way to do this? Entering each houses' separate expenses is very time consuming, and I was wondering if there is a way to enter the expenses of ALL the houses, combined, on just ONE Schedule E (part A) and just have the depreciation of each house separately listed elsewhere (since I will need to know exactly how much was depreciated at the time of selling each of the houses? Does anyone KNOW the tax laws regarding the combining of the expenses on multible investment homes? If so, I would be most grateful for your advice. Also, if you have a direct referencing statement by the IRS to back what you state, I would truly appreciate it. Thanks in advance for taking the time to respond.