Start Here: Landlord
Rental income goes on Schedule E. You depreciate the building (not the land) over 27.5 years for residential or 39 for commercial. Losses are passive — usually trapped — unless you qualify as a real estate professional or hit the $25k active-participation allowance. NIIT may apply.
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Guidance, not advice. We explain the rules, we don't assess your situation. Always seek financial or tax advice from a qualified CPA, Enrolled Agent, or tax attorney, or contact the IRS. Read our editorial scope →
Your essential reading list
- Accidental landlord guide — First-time landlords who didn't plan to be one.
- Landlords trade guide — Schedule E mechanics, depreciation, repairs vs improvements.
- Passive losses + NOL — When rental losses can — and can't — offset other income.
Calculators you'll actually use
- Capital Gains Calculator — Depreciation recapture (§1250) at 25% on the eventual sale.
- 1031 Exchange Calculator — Defer gain on a like-kind real property swap.
- NIIT Calculator — 3.8% surtax applies to most passive rental income above thresholds.
- Property Transfer Tax — State + local transfer/recordation tax at purchase or sale.
- State Tax Comparison — Where rental income is taxed — your residence state and the property state.
Background guides
- Depreciation §179 / bonus — What you can expense vs capitalize on a rental.
- Multi-state tax — Out-of-state property = nonresident return in the property state.
- QBI §199A safe harbour — Rev. Proc. 2019-38 rental real estate safe harbour for QBI.
Also useful
- Bereavement + estate — Step-up in basis on inherited rental property.
- California landlord overlay — AB 1482 rent caps + state tax treatment of out-of-state owners.
- New York landlord overlay — NYC + state stacking, RPTT, and Mansion Tax on transfers.
What to do next
Set up depreciation correctly from year one — fixing missed depreciation later requires Form 3115. Run the NIIT calculator if your MAGI is above $200k single / $250k MFJ.
Different situation? Back to all start-here paths.