Rental Property
Profit & Lost
Statement
if you have multiple rental properties, please make one of these income statement for each rental properly.
Square Footage of Property Used as Rental:
Total Square Footage as rental part
Total Square Footage of property
% of property used directly for business
Property address:
Total Rent received (Can either be the amounts collected or include the amounts receivable).
Expenses Indicate the total amount for the year for the whole building.
Cleaning and maintenance
Insurances
Legal fees
Management fees
Mortgage interest
Property taxes
Utilities ( heating, lighting…)
Lawn care
Snow removal
Expenses. Indicate the amount for the rental part only.
Advertising
Traveling for maintenance , repairs or to get paid ( plane, metro, bus)
Car traveling for maintenance , repairs or to get paid ( see explanation below)
Commissions
Professional fees ( accountant, tax prep)
Repairs
Supplies
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Rental income loss $
Building Amortization
Furnitures Amortization on furnished apartment
Equipments Amortization
Indicate the cost and year of acquisition
and the UPCC (undepreciated portion of capital cost) applicable for each category of depreciation if it’s the case.
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Net rental income loss
Car traveling for maintenance , repairs or to get paid. Indicates the total amount for the year.
Interest on car loan
Permit
Matriculation
Gas
Maintenance and repair
Km travelled for rental purposes:
Total km traveled in the year:
% of travel-related expenses to be deducted: