Examlex
Which of the following is true of the Department of State?
Rental Expenses
Rental expenses are costs incurred in the operation, maintenance, and management of rental property and can include repairs, property taxes, and mortgage interest, often deductible for tax purposes.
Schedule E
A form used by taxpayers in the United States to report income and losses from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.
Depreciation
The reduction in the value of an asset over time, due to wear and tear, age, or obsolescence.
Security Deposit
Funds provided by a tenant to a landlord at the start of a lease as protection against damage or non-payment of rent, usually refundable under certain conditions.
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