Paperback: 261 pages
Pub:
McGraw-Hill
ISBN: 0071422579
Available at:
Amazon
Taxable Income
INCOME
Gross Scheduled Rent Income
Other Income
TOTAL GROSS INCOME
VACANCY & CREDIT ALLOWANCE
GROSS OPERATING INCOME
EXPENSES
Insurance (fire and liability)
Property Taxes
Repairs and Maintenance
Supplies & Miscellaneous
Utilities
Other
TOTAL EXPENSES
NET OPERATING INCOME
Less Interest, First Mortgage
Less Interest, Second Mortgage
Less Depreciation, Real Property
Less Depreciation, Capital Additions
Plus Interest Earned
TAXABLE INCOME
Automatic Recalculation
Taxable income equals the property's Gross Scheduled Income, less Vacancy and Credit Allowance, operating expenses, mortgage interest and depreciation. If there is property-specific interest earned (for example, on an escrow account) that will increase the taxable income.
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Corrections / Errata
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