Taxing Rental Income: Rent Ledgers, Allowable Expenses, Depreciation, Interest & Loss Carry-Forward
Turn a year of letting into a taxable result under a fictional tax system: income, expenses, depreciation, interest and losses carried forward, with every cell checked as you go.
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About this course
In this course you turn one fictional landlord's year into a taxable result in eight interactive spreadsheet labs. You total a rent ledger with SUMIFS and keep refundable deposits out of income, classify expenses as allowable, capital or private with XLOOKUP, and split mixed-use costs by own-use days and floor area. You depreciate a building without its land, pro-rate part-year assets, split loan payments into interest and principal and apply an interest cap. Finally you carry losses forward with a use cap, tax the profit on top of other income with brackets and model a sale with depreciation recapture. All rules are simplified and fictional – not legal or tax advice.
Lessons
- The Rent Ledger: Rent Received, Deposits vs Income & the Vacancy Rate Pro
- Classifying Expenses: Allowable Costs, Repairs vs Improvements & Private Costs Pro
- Mixed Use: Own-Use Days, Apportionment Ratios & Shared Costs by Floor Area Pro
- Depreciation: Straight-Line Rates, Land, Part-Year Assets & a Five-Year Schedule Pro
- Loan Interest: Interest per Quarter, Annual Interest & a Fictional Interest Cap Pro
- Profit, Loss & Carry-Forward: A Multi-Year Table with a Fictional Loss-Use Cap Pro
- Tax Due: Fictional Brackets, Rental Profit on Top of Other Income & the Effective Rate Pro
- Selling the Property: Adjusted Cost, Gain, Depreciation Recapture & the Landlord Dashboard Pro