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AK Form 4835: What You Should Know
Jul 2023 — Form 941-X Return (for real Estate Investors) 10 Feb 2023 — Use Form 941-X to report property and services income from real estate held for sale. 12 Aug 2023 — Form 941-X to Report Income from Real Estate 5 Dec 2033 — Use Form 8889 to report income from real property that is not sold. 25 Aug 2034 — The IRS changes the rules of filing IRS Form 4835. The new filing rules include the following: You can now claim the deduction for interest on your tax return, as well as the deduction of rental property, under a Schedule R for farms and rental property, rather than Schedule C (cash payments of any kind) or Schedule H (purchased housing). You will need to determine if you have any additional rental income that you need to report in addition to rental property income. There are two versions of the form, the original form (Form 4835) and the revised form (Form 4835-EZ). 1 Jul 2023 — You can now claim interest and tax payments from the sale of rental property, just like you can do with cash. For more information about these changes, please see the guidance provided previously at IRS.gov and in Treasury Circular 2306. For guidance on Schedule R, see Publication 521, Rental Property. For other forms that provide information on the rental income tax and how to file for Form 4835, see the following references: Internal Revenue Code (IRC) 6103: General Rules about Reporting and Filing Rental Property, or Publication 1825, Rental Property Tax Guide. IRC Section 1031: General Rules about Reporting and Filing Income and Capital Gains from Other Sources. IRC Regulation 6103B: Miscellaneous Rules About Rental Property, or Publication 3, Rental Property. A related publication is Tax Rental Property. Treasury Regulation 7604(g)(10): Rental property under the section 1662 real estate sales and exchange provisions or Section 1242(c) interest. These publications are available from the Treasury Regulation & Publications Online Catalog (available through IRS.gov/Pubs/Default.aspx). Treasury Regulation 7604(g)(11): Subpart A—General Rental Properties. This publication is available from the Treasury Regulations & Publications Online Catalog (other options available through IRS.gov/Pubs/Default.
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