Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions (Page 11 of 24) in pdf

Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions Page 11

Instructions for Worksheet RPIE-2016

Page 10

11. Other: Any income generated by the property that has not been previously specified; typical ex-

amples include common area maintenance income or common area rental charges. Do not include

interest on bank accounts or tenants’ deposits. You must itemize the sources of this income.

12. Total Income from Real Estate: This line provides a calculation reflecting the sum of lines 1 through 11.

sECtIoN k - INComE FRom BUsINEss

Complete this section only if the property is used to operate a business such as a theater, gas station,

department store, garage, parking lot, power plant, self-storage warehouse or car wash.

For each source of income listed in questions 1-7c., enter the corresponding total income for the 2016

reporting period. Net Department Store Sales will be calculated on line 7d by subtracting 7b from 7a

and adding 7c (i.e., 7a - 7b + 7c = 7d).

Total all income from business will be calculated on line 8 using totals from lines 1 to 6 plus 7d (Net

Department Store Sales).

sECtIoN L(I) - oPERAtING EXPENsEs

Use this section to report operating expenses for your property. Allowable expenses include those as-

sociated with providing services to tenants, property management and property administration.

Enter the total expenses for following items during 2016:

Fuel: Include fuel oil, gas or steam, including gas provided to tenants.

Light and Power: Include electricity, including electricity provided to tenants. Do not include elec-

tricity consumed by the owner or other filer(s) for personal or business use.

Cleaning Contracts: Include contracts with cleaning-service companies or individual cleaners.

Wages and Payroll: Include all wages, related payroll taxes and employee benefits for building

maintenance employees who work at the property. Do not include salaries of employees who

work in any off-site management office.

Repairs and Maintenance: Amounts paid or incurred for contracts with maintenance companies.

Include any amounts that were paid for routine repair services and for material or parts used for

repairs. Do not include reserves for replacements.

Management and Administration: Amount paid or incurred for contracts with a management com-

pany. Include office expenses and legal/accounting services related to the operation of the property.

Insurance (annual): Annual charges for fire, liability, and other insurance premiums paid to protect

the real property. Pro-rate multi-year premiums to calculate an average annual expense.

Water and Sewer: Amount paid or incurred for water and sewer frontage or usage.

Advertising: Amount paid or incurred for advertising space available for rent.

10. Interior Painting and Decorating: Cost of contract services and materials for interior painting and

interior decoration.

Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions Page 11