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Pennsylvania Free Printable 2019 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E) for 2020 Pennsylvania PA Schedule E - Rent and Royalty Income (Loss)

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PA Schedule E - Rent and Royalty Income (Loss)
2019 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

1906810054 PA SCHEDULE E Rent and Royalty Income (Loss) PA-20S/PA-65 E (PT) 09-19 (FI) PA Department of Revenue START ➜ 2019 OFFICIAL USE ONLY Copy PA-20S/PA-65 Schedule E to list additional properties. Name as shown on the PA-20S/PA-65 Information Return FEIN 9 DIGIT - NO DASH SECTION I. Property Description Enter the address and type of each rental property and/or each source of royalty income. If the property is outside PA, fill in the oval. A B C D SECTION II. (Enter amounts in whole dollars) Income (As reported on federal Form 8825) ¢ ¢ ¢ ¢ ¢ Property A Property B Property C Property D 1 Rental income received . . . . . . . . . . . . . . 1 2 Royalty income received . . . . . . . . . . . . . 2 Expenses (As reported on federal Form 8825) 3 4 5 6 7 8 9 10 11 12 13 14 15 Automobile and travel . . . . . . . . . . . . . . . Commissions . . . . . . . . . . . . . . . . . . . . . Legal and professional fees . . . . . . . . . . . Repairs . . . . . . . . . . . . . . . . . . . . . . . . . Management fees . . . . . . . . . . . . . . . . . . ¢ ¢ ¢ ¢ ¢ 3 4 5 6 7 Advertising . . . . . . . . . . . . . . . . . . . . . . 8 Cleaning and maintenance . . . . . . . . . . . 9 Insurance . . . . . . . . . . . . . . . . . . . . . . .10 Interest . . . . . . . . . . . . . . . . . . . . . . . . .11 Taxes (not based on net income) . . . . . . .12 Utilities . . . . . . . . . . . . . . . . . . . . . . . . .13 Wages and salaries . . . . . . . . . . . . . . . .14 Depreciation expense . . . . . . . . . . . . . . .15 Important. PA PIT law does not permit any federal bonus depreciation and limits IRC Section 179 expensing. 16 Other expenses (itemize): . . . . . . . . . . . .16 ................................ ................................ ................................ 17 Total Expenses for Each Property – Add Lines 3 through 16. . . . . . . . . . . . . .17 Income or Loss 18 Income – If Line 1 or 2 is greater than Line 17. . . . . . . . . . . . . . . . . . . . . . . . . . . .18 19 Loss – If Line 1 or 2 is less than Line 17. (fill in the oval). . . . . . . . . . . . . . . . . . . .19 20 Income (loss) from property within Pennsylvania . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(If loss, fill in oval) 21 22 23 24 Income (loss) from property outside Pennsylvania . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(If loss, fill in oval) Rent or royalty income (loss) from PA sources from PA Schedule(s) NRK-1. . . . . . . . . . . . . . . . . . . . . . .(If loss, fill in oval) Rent or royalty income (loss) from sources outside PA from PA Schedule(s) RK-1 and NRK-1. . . . . . . . . . .(If loss, fill in oval) Net rent and royalty income (loss) from PA sources. Add Lines 20 and 22. . . . . . . . . . . . . . . . . . . . . .(If loss, fill in oval) 25 Net rent and royalty income (loss) from outside Pennsylvania. Add Lines 21 and 23. . . . . . . . . . . . . . . . . .(If loss, fill in oval) LOSS LOSS LOSS LOSS LOSS LOSS 20 21 22 23 24 25 Note: Net gain (loss) from federal Form 4797, from the disposition of property from rental real estate activities must be reported on PA-20S/PA-65 Schedule D. 1906810054 Reset Entire Form 1906810054 TOP OF PAGE PRINT THIS PAGE DOES NOT PRINT Pennsylvania Department of Revenue 2019 Instructions for PA-20S/PA 65 Schedule E PA-20S/PA-65 E IN (PT) 09-19 GENERAL INFORMATION PURPOSE OF SCHEDULE Use PA-20S/PA-65 Schedule E to report income (loss) from rent and royalty income of PA S corporations, partnerships and LLC’s filing as S corporations and partnerships for federal income tax purposes. Pennsylvania does not follow federal At-Risk Rules or Passive Activity Loss Rules. Rent and Royalty Income (Loss) IMPORTANT: Pennsylvania personal income tax law does not allow any bonus depreciation expense elections that federal law allows. Also, the maximum expense that Pennsylvania personal income tax law permits using IRC §179 is $25,000. If you have income/loss from more than one business, profession or farm you may not deduct more than a total of $25,000 of IRC §179 expense for all activities in PA. The IRC §179 expense is phased out when purchases exceed $200,000. Federal increases in dollar limits after 1997 do not apply. NET INCOME (LOSS) FROM RENTS, ROYALTIES, PATENTS AND COPYRIGHTS You do not need to expense assets using IRC §179 on your federal return in order to claim the expense on your PA return. Gross rent and royalty income includes all items of gross income or receipts derived from rents, royalties, patents, copyrights, secret processes, formulas, goodwill, trademarks, trade brands, franchises and similar property, except: ● Income or receipts derived from the sale, exchange or other disposition of rents, royalties, patents, secret processes, formulas, goodwill, trademarks, trade brands, franchises and similar property; or ● Income or receipts derived from operating oil, gas, or mining interests includable in the calculation of net profit (loss) from a business, profession or farm, or otherwise derived in the ordinary course of and from the operation of a business. RENT VS. NET BUSINESS INCOME NET RENT Net rents and royalties from real and tangible personal property located in Pennsylvania are allocable to Pennsylvania. NET ROYALTIES Patent, copyright and other intangible royalties are allocable to Pennsylvania to the extent that the payer of such income uses the patent or copyright in Pennsylvania. A business uses a patent in Pennsylvania to the extent that it employs the patent in the production, fabrication, manufacturing, or other processing in Pennsylvania, or to the extent that it produces a patented product in Pennsylvania. The determination of whether rent and royalty income is reported on PA-20S/PA-65 Schedule E or PA-20S/PA-65 Schedule M, Column (b) is dependent upon the classification of such income. Whether an activity is a passive activity for federal income tax purposes is not controlling. Refer to the PA Personal Income Tax Guide – Net Income (Loss) from Rents, Royalties, Copyrights and Patents for the detailed rules used in classifying rent and royalty income and net business income. All requisite Pennsylvania/federal differences are used in arriving at net rent and royalty income. Refer to the PA-20S/PA-65 Schedule M for similar Pennsylvania/federal differences. PA RENTAL PROPERTY If selecting Column (f) on PA-20S/PA-65 Schedule M, Part II, Section I, then transfer the amount in Part II, Section VII, Line 1 to the PA-20S/PA-65 Information Return, Section III, Line 6b. If a loss, fill in the oval. A business uses a copyright in Pennsylvania to the extent that it prints or otherwise publishes in Pennsylvania. NON PA RENTAL PROPERTY If selecting Column (f) on PA-20S/PA-65 Schedule M, Part II, Section I, then transfer the amount in Part II, Section VII, Line 2 minus Line 1 to the PA-20S/PA-65 Information Return, Section III, Line 6a. If Line 6a is a negative amount, fill in the “loss” oval. ALLOWABLE DEDUCTIONS COMPLETING PA SCHEDULE E The PA S corporation or partnership may only deduct the expenses that it ordinarily pays or incurs during the taxable year. The expenses must be necessary for the production or collection of rent and royalty income or the management, conservation or maintenance of rents, royalties, patents, copyrights or similar property. Such expenses include advertising, cleaning and maintenance, agents’ commissions, insurance, legal fees, management fees, interest, repairs, supplies, utilities, and depreciation expense or cost depletion. Refer to 61 Pa. Code § 125.51 for cost depletion. Copy PA-20S/PA-65 Schedule E to list additional properties. www.revenue.pa.gov BUSINESS NAME Enter the complete name of the entity or business as shown on the PA-20S/PA-65 Information Return. FEIN Enter the nine-digit federal employer identification number (FEIN) of the entity or business as shown on the PA-20S/ PA-65 Information Return. PA-20S/PA-65 E 1 NOTE: If there are more than four rental properties on Schedule E constituting more than one page, then all totals should appear on the first page of the schedule. LINE INSTRUCTIONS SECTION I PROPERTY DESCRIPTION Complete and submit a PA Schedule E. The PA Schedule E should reflect what is reported on federal Form 8825, Rental Real Estate Income and Expenses of a Partnership or S Corporation. For each rental real estate property (e.g. townhouse) and/or royalty income (e.g. mineral extracts), enter street address, city or town, and state and the type of property. If the property is outside Pennsylvania, fill in the oval. Complete PA Schedule M, Part II to reflect your Pennsylvania adjustments. SECTION II INCOME PA-20S/PA-65 Schedule E should reflect what is reported on federal Form 8825, Rental Real Estate Income and Expenses of a Partnership or S Corporation. Enter rental and royalty income for each property as reported on federal Form 8825. Complete PA-20S/PA-65 Schedule M, Part II to reflect your Pennsylvania adjustments. PROPERTY A, B, C, D Enter amounts in whole dollars under the corresponding column of the property listed in Section I. NOTE: Rental income may not be apportioned. It must be allocated based on expenses and income. Complete Section II using actual amounts. LINE 1 RENTAL INCOME RECEIVED Enter the gross rent from the rental of real estate or other tangible personal property, including personal property leased with real estate. Include income received for renting a room or other space. If you received services or property as rent, report the fair market value of such services or property as rental income. Reporting of rental income should be done separately from royalties using different columns on Schedule E. LINE 2 ROYALTY INCOME RECEIVED Enter the gross royalties from oil, gas or mineral properties (not including operating interests), copyrights and patents. Reporting of royalties should be done separately from rental income using different columns on Schedule E. EXPENSES Enter rental and royalty expenses for each property as reported on federal Form 8825. 2 PA-20S/PA-65 E LINE 3 AUTOMOBILE AND TRAVEL Deduct ordinary and necessary automobile and travel expenses related to your rental activities. You generally can either deduct your actual expenses or take the standard federal mileage rate. LINE 4 COMMISSIONS Enter commissions paid during the current tax year. LINE 5 LEGAL AND PROFESSIONAL FEES Enter fees for tax advice and the preparation of tax forms related to your rental real estate or royalty properties. Do not deduct legal fees paid or incurred to defend or protect title to property, to recover property or to develop or improve property. Instead, you must capitalize these fees and add them to the property’s basis. LINE 6 REPAIRS Enter the cost of repairs paid to keep your property in good working condition. Repairs such as fixing a broken lock or painting a room generally do not add significant value to the property or extend its life. Improvements that increase the value of the property or extend its life such as replacing a roof or renovating a kitchen must be capitalized. You cannot deduct such costs in full in the year it is paid or incurred. LINE 7 MANAGEMENT FEES Enter fees paid to an outside source by the entity to manage property during the current year. LINE 8 ADVERTISING Enter the cost of advertising property vacancies during the current tax year. LINE 9 CLEANING AND MAINTENANCE Enter fees related to cleaning and maintenance of property performed by an outside source during the current tax year. LINE 10 INSURANCE Enter the cost of insurance for property during the current tax year. LINE 11 INTEREST Enter the amount of interest paid to banks or other financial institutions if you have a mortgage on your rental property. To determine the interest expense allocable to your rental activities, you must have records to show how you used the proceeds of each loan. Pennsylvania does not follow federal rules regarding prepaid interest. www.revenue.pa.gov NOTE: The federal limit on interest expense under IRC §163(j) is not used for Pennsylvania personal income tax purposes. Valid business interest is fully deductible when calculating taxable income. https://www.revenue.pa.gov /GeneralTaxInformation/TaxLawPoliciesBulletinsNotices/ Pages/Tax-Cuts-Jobs-Act-2017.aspx. LINE 12 TAXES (NOT BASED ON NET INCOME) Enter taxes paid directly related to the rental activity. Deduct the proportionate share of real estate taxes. You may not deduct taxes based on income. You may deduct gross receipts and business privilege taxes. NOTE: The portion of the Philadelphia business privilege tax based on gross receipts is deductible for Pennsylvania personal income tax purposes. LINE 13 UTILITIES Enter the cost paid for ordinary and necessary telephone calls related to your rental activities or royalty income (for example, calls to the renter). However, the base rate (including taxes and other charges) for telephone service for the first telephone line into your residence is a personal expense and is not deductible. LINE 14 WAGES AND SALARIES Enter wages and salaries related to property during the current tax year. LINE 15 DEPRECIATION EXPENSES Enter the annual depreciation deduction you must take to recover the cost or other basis of business or investment property having a useful life substantially beyond the tax year. Land is not depreciable. Since Pennsylvania law does not allow any federal bonus depreciation and limits IRC §179 expensing, you must adjust depreciation expenses on Schedule M, Part II. For assets where basis is different between federal and PA, you must calculate depreciation expenses on a straight line basis. You do not need to expense assets using IRC §179 on your federal return in order to claim the expense on your PA return. LINE 16 OTHER EXPENSES Enter other expenses not listed on Lines 3 through 15. If additional space is needed submit an itemized statement indicating the other expenses for each of the properties listed. LINE 17 TOTAL EXPENSES FOR EACH PROPERTY Add Lines 3 through 16. www.revenue.pa.gov INCOME OR LOSS NOTE: Enter the income or loss on Line 18 or Line 19 for each property. LINE 18 INCOME – IF LINE 1 OR 2 IS GREATER THAN LINE 17 Subtract Line 17 from the sum of Line 1 and Line 2. LINE 19 LOSS - IF LINE 1 OR 2 IS LESS THAN LINE 17 Subtract Line 17 from the sum of Line 1 and Line 2. Fill in the oval. LINE 20 INCOME (LOSS) FROM PROPERTY WITHIN PENNSYLVANIA Add the net income (loss) amounts from Lines 18 and 19 for each property within Pennsylvania. If a loss, fill in the oval. LINE 21 INCOME (LOSS) FROM PROPERTY OUTSIDE PENNSYLVANIA Add the net income (loss) amounts from Lines 18 and 19 for each property outside Pennsylvania. If a loss, fill in the oval. LINE 22 RENT OR ROYALTY INCOME (LOSS) FROM PENNSYLVANIA SOURCES FROM PA SCHEDULE(S) NRK-1 Enter the rent and royalty income (loss) amounts from PA-20S/ PA-65 Schedule NRK-1, Line 3. If a loss, fill in the oval. LINE 23 RENT OR ROYALTY INCOME (LOSS) FROM SOURCES OUTSIDE PENNSYLVANIA FROM PA SCHEDULE(S) RK-1 AND NRK-1 Enter the rent and royalty income (loss) difference of PA-20S/PA-65 Schedule(s) RK-1, Line 5 and PA-20S/PA-65 Schedule(s) NRK-1, Line 3. If a loss, fill in the oval. LINE 24 NET RENT AND ROYALTY INCOME (LOSS) FROM PENNSYLVANIA-SOURCES Add Lines 20 and 22. If a loss, fill in the oval. LINE 25 NET RENT AND ROYALTY INCOME (LOSS) FROM OUTSIDE PENNSYLVANIA Add Lines 21 and 23. If a loss, fill in the oval. Net gain (loss) from federal Form 4797, from the disposition of property from rental real estate activities must be reported on PA-20S/PA-65 Schedule D. PA-20S/PA-65 E 3
Extracted from PDF file 2019-pennsylvania-form-pa-20s-pa-65-e.pdf, last modified June 2012

More about the Pennsylvania Form PA-20S-PA-65 E Corporate Income Tax TY 2019

We last updated the PA Schedule E - Rent and Royalty Income (Loss) in March 2020, so this is the latest version of Form PA-20S-PA-65 E, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form PA-20S-PA-65 E directly from TaxFormFinder. You can print other Pennsylvania tax forms here.

Related Pennsylvania Corporate Income Tax Forms:

TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Pennsylvania Form PA-20S-PA-65 E.

Form Code Form Name
Form PA-20S-PA-65 S Corporation/Partnership Information Return (PA-20S/PA-65)
Form PA-20S-PA-65 A PA Schedule A - Interest Income
Form PA-20S-PA-65 M PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)
Form PA-20S-PA-65 RK-1 PA Schedule RK-1 - Resident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits
Form PA-20S-PA-65 NRK-1 PA Schedule NRK-1 - Nonresident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits
Form PA-20S-PA-65 Directory PA-20S/PA-65 Directory - Partner/Member/Shareholder
Form PA-20S-PA-65 B PA Schedule B - Dividend and Capital Gains Income
Form PA-20S-PA-65 CP PA Schedule CP - Corporate Partner Withholding
Form PA-20S-PA-65 D PA Schedule D - Sale, Exchange or Disposition of Property Within Pennsylvania
Form PA-20S-PA-65 H PA Schedule H - Apportioned Business Income (Loss)/Calculation of PA Net Business Income (Loss)

Download all PA tax forms View all 175 Pennsylvania Income Tax Forms


Form Sources:

Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form PA-20S-PA-65 E from the Department of Revenue in March 2020.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Pennsylvania Form PA-20S-PA-65 E

We have a total of nine past-year versions of Form PA-20S-PA-65 E in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form PA-20S-PA-65 E

2019 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

2018 Form PA-20S-PA-65 E

PA-20S65Form (FI)(12)_PA-20S/PA-65 Forms(10-13-05)

2017 Form PA-20S-PA-65 E

2017 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

2016 Form PA-20S-PA-65 E

2016 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

Forms/Publications 2015 Form PA-20S-PA-65 E

2015 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

Forms/Publications 2014 Form PA-20S-PA-65 E

2014 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

2013 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E) 2013 Form PA-20S-PA-65 E

2013 PA Schedule E - Rent and Royalty Income (Loss) (PA-20S/PA-65 E)

2012 PA Schedule E - Rents and Royalty Income (PA-20S?PA-65 E) 2012 Form PA-20S-PA-65 E

2012 PA Schedule E - Rents and Royalty Income (PA-20S?PA-65 E)

2011 PA Schedule E - Rents and Royalty Income (PA-20S?PA-65 E) 2011 Form PA-20S-PA-65 E

2011 PA Schedule E - Rents and Royalty Income (PA-20S?PA-65 E)


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