Form 8825 Form 8825 Rental Real Estate Income and Expenses of a Partnership

Form

8825

(Rev. December 2006)

Rental Real Estate Income and Expenses of a
Partnership or an S Corporation

Department of the Treasury
Internal Revenue Service

©

See instructions on back.
Attach to Form 1065, Form 1065-B, or Form 1120S.

Name

1

OMB No. 1545-1186

©

Employer identification number

Show the kind and location of each property. See page 2 to list additional properties.

A
B
C
D

Properties
2

3
4
5
6
7
8
9
10
11
12
13
14
15

A

Rental Real Estate Income
Gross rents

2

Rental Real Estate Expenses
Advertising
Auto and travel
Cleaning and maintenance
Commissions
Insurance
Legal and other professional fees
Interest
Repairs
Taxes
Utilities
Wages and salaries
Depreciation (see instructions)
Other (list) ©

3
4
5
6
7
8
9
10
11
12
13
14

B

C

D

15

16

Total expenses for each property.
Add lines 3 through 15

16

17

Total gross rents. Add gross rents from line 2, columns A through H

17

18

Total expenses. Add total expenses from line 16, columns A through H

18 (

19

Net gain (loss) from Form 4797, Part II, line 17, from the disposition of property from rental real
estate activities

19

20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which
this partnership or S corporation is a partner or beneficiary (from Schedule K-1)
b Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line
20a. Attach a schedule if more space is needed:
(1) Name

21

20a

(2) Employer identification number

Net rental real estate income (loss). Combine lines 17 through 20a. Enter the result here and on:
● Form 1065 or 1120S: Schedule K, line 2, or
● Form 1065-B: Part I, line 4

For Paperwork Reduction Act Notice, see back of form.

)

Cat. No. 10136Z

21

Form

8825

(12-2006)

Form 8825 (12-2006)

1

Page

2

Show the kind and location of each property.

E
F
G
H

Properties
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Rental Real Estate Income
Gross rents
Rental Real Estate Expenses
Advertising
Auto and travel
Cleaning and maintenance
Commissions
Insurance
Legal and other professional fees
Interest
Repairs
Taxes
Utilities
Wages and salaries
Depreciation (see instructions)
Other (list) ©

E

F

G

H

2
3
4
5
6
7
8
9
10
11
12
13
14
15

16

Total expenses for each property.
Add lines 3 through 15
16

Instructions
Section references are to the Internal Revenue
Code.

What’s New
The IRS will revise this December 2006 version of
Form 8825 only when necessary. Continue to use
this version of the form for tax years beginning
after 2006 until a new revision is issued.
Purpose of form. Partnerships and
S corporations use Form 8825 to report income
and deductible expenses from rental real estate
activities, including net income (loss) from rental
real estate activities that flow through from
partnerships, estates, or trusts.
Before completing this form, be sure to read:
● Passive Activity Limitations in the instructions for
Form 1065 or Form 1120S, or Passive Loss Limitation
Activities in the instructions for Form 1065-B,
especially for the definition of “rental activity.”
● Extraterritorial Income Exclusion in the
instructions for Form 1065, 1065-B, or 1120S.
Specific Instructions. Form 8825 provides space
for up to eight properties. If there are more than
eight properties, attach additional Forms 8825.
The number of columns to be used for
reporting income and expenses on this form may
differ from the number of rental real estate
activities the partnership or S corporation has for
purposes of the passive activity limitations. For
example, a partnership owns two apartment
buildings, each located in a different city. For
purposes of the passive activity limitations, the
partnership grouped both buildings into a single
activity. Although the partnership has only one
rental real estate activity for purposes of the

passive activity limitations, it must report the
income and deductions for each building in
separate columns.
However, if the partnership or S corporation
has more than one rental real estate activity for
purposes of the passive activity limitations,
attach a statement to Schedule K that reports
the net income (loss) for each separate activity.
Also, attach a statement to each Schedule K-1
that reports each partner’s or shareholder’s
share of the net income (loss) by separate
activity (except for limited partners in an electing
large partnership). See Passive Activity Reporting
Requirements in the instructions for Form 1065,
Form 1065-B, or Form 1120S for additional
information that must be provided for each
activity.
Complete lines 1 through 16 for each property.
But complete lines 17 through 21 on only one
Form 8825. The figures on lines 17 and 18
should be the combined totals for all forms.
Do not report on Form 8825 any:
● Income or deductions from a trade or
business activity or a rental activity other than
rental real estate. These items are reported
elsewhere.
● Portfolio income or deductions.
● Section 179 expense deduction.
● Other items that must be reported separately
to the partners or shareholders.
● Commercial revitalization deductions.
Line 1. Show the kind of property rented out (for
example, “apartment building”). Give the street
address, city or town, and state.
Line 14. The partnership or S corporation may
claim a depreciation deduction each year for

rental property (except for land, which is not
depreciable). If the partnership or S corporation
placed property in service during the current tax
year or claimed depreciation on any vehicle or
other listed property, complete and attach Form
4562, Depreciation and Amortization. See Form
4562 and its instructions to figure the
depreciation deduction.
Paperwork Reduction Act Notice. We ask for
the information on this form to carry out the
Internal Revenue laws of the United States. You
are required to give us the information. We need
it to ensure that you are complying with these
laws and to allow us to figure and collect the
right amount of tax.
You are not required to provide the
information requested on a form that is subject
to the Paperwork Reduction Act unless the form
displays a valid OMB control number. Books or
records relating to a form or its instructions must
be retained as long as their contents may
become material in the administration of any
Internal Revenue law. Generally, tax returns and
return information are confidential, as required
by section 6103.
The time needed to complete and file this form
will vary depending on individual circumstances.
The estimated average time is: Recordkeeping, 6
hr., 27 min.; Learning about the law or the form,
34 min.; Preparing the form, 1 hr., 37 min.;
Copying, assembling, and sending the form to
the IRS, 16 min.
If you have comments concerning the
accuracy of these time estimates or suggestions
for making this form simpler, we would be happy
to hear from you. See the instructions for the tax
return with which this form is filed.
Form

8825

(12-2006)