Could my parents deduct it on their taxes, or would it only be on my end (schedule E)?

A buddy of mine Patrick runs the new investor subgroup of the AZREIA (Arizona Real Estate Investors Association).Next meet up for that group is May 7th at 6pm in the Keller Williams building located at:1745 E.

The purpose of line 2 on schedule E is to determine the split between rental and personal.

Thanks for pointing this out, @Stanley Nguyen.I will check this issue.I did not sign up in their portal, I filled registration forms and sent them via e-mail.Have you tried that?

If you have not already, there are three ways to get an extension: E-file extension for free e-file their extension form for free.By paying an estimate of their income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or a credit or debit card.

If it is in your name or in the name of a one member LLC, you would use Schedule E on your personal 1040.

By the book: CRLTO 5-12-130(E)(3):(e)Abandonment.

Our MLS is on an e-key that only agents and appraisers can get access to (that I know of). 

@Lynnette E. that is a great point!

You will then ad schedule E to your personal income tax return and get depreciation on the rented units.