Rental Income / Expense Worksheet (Schedule E)

Gross rent, vacancy loss, EGI, 15 expense line items, NOI, taxable income (NOI - depreciation), cap rate, cash-on-cash, expense ratio, gross rent multiplier (GRM) and value at a market GRM. CPA governs final return.

gross_rent = monthly_rent * 12. vacancy_loss = gross_rent * vacancy_pct/100. EGI = gross_rent - vacancy_loss + other_income. NOI = EGI - sum(expenses) (excluding depreciation). taxable_rental_income = NOI - depreciation. cap_rate = NOI / property_value. cash_on_cash = NOI / cash_invested. grm = property_value / gross_rent (gross rent multiplier, income approach). value_at_market_grm = market_grm * gross_rent.

IRS Schedule E (Form 1040), Supplemental Income and Loss, Part I (Income or Loss From Rental Real Estate). Schedule E lines 5-19 (expense categories). 26 USC §469 (passive activity loss rules). 26 USC §1402 (self-employment tax exemption for rental real estate). The gross-rent-multiplier income approach per the Appraisal Institute, The Appraisal of Real Estate (15th ed.).

Schedule E form + instructions free at irs.gov. 26 USC Part 1 free at uscode.house.gov.

Estimate. Lender governs final underwriting and rate / fee disclosure. Appraiser governs the appraised value. State law and the agency's program guidelines may impose stricter limits than the published thresholds.

Field names used by the API: monthly_rent, vacancy_pct, insurance, mortgage_interest, property_taxes, management_fees, repairs, depreciation_annual, property_value, cash_invested, market_grm, NOI, cap_rate_pct, cash_on_cash_pct, grm, value_at_market_grm

• Expense categories Schedule E lines 5-19 covered; line 18 (depreciation) handled separatelySchedule E instructions
• Vacancy treatment vacancy modeled as a fraction of gross potential rent; the tile does NOT model rent concessions or bad-debt loss separatelyconvention
• Passive-loss treatment the tile reports taxable rental income / loss; whether the loss is currently usable vs suspended is a 26 USC §469 question outside scope26 USC §469
• GRM basis GRM is computed on annual scheduled gross rent (price / annual gross rent), the income-approach convention; some markets quote a monthly GRM instead, so compare like with likeAppraisal of Real Estate 15th ed.