Schedule E Reporting

Other Inputs ($ unless noted)

If using two full years, enter 24 months; if only current year, enter 12 and set Last Year to 0.

Number of Months Rented (combined) ? How many total months of rent you’re using across the period entered. This is used to convert annual figures into a monthly qualifying amount.

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Current Mortgage Payment ($ per month) ? Your current monthly principal and interest payment for the rental property. Many lenders subtract the full monthly housing payment from qualifying rent/income. Monthly Taxes (if not escrowed, $ per month) ? If you pay property taxes separately (not included in your mortgage payment), enter the monthly amount here so the calculator can reflect the true housing expense. Monthly Insurance (if not escrowed, $ per month) ? If homeowners insurance is not included in your mortgage payment, enter the monthly amount here. Monthly HOA Dues ($ per month) ? HOA dues paid monthly. If HOA is already included in Schedule E expenses, be careful not to double-count it here.

Results

Total Adjusted Income (This Year): ? Your Schedule E result for the current year after common lender add-backs (like depreciation) and normalization. This is an estimate—lenders may calculate differently. —

Total Adjusted Income (Last Year): ? Same calculation as “This Year,” but using last year’s Schedule E numbers for comparison and stability. —

Total Adjusted Income (Combined): ? A blended view across the years you entered. Many lenders average multiple years to smooth out unusual spikes or one-time expenses. —

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Adjusted Income / Month: ? The combined adjusted income divided by the months rented. This is the monthly number often compared against the property’s monthly housing payment. —

Net Monthly Income/Loss for Property: ? Your estimated monthly contribution from the rental after factoring in the property’s monthly housing costs. A negative number may reduce how much you can qualify for on a new loan. —