Real Property Income & Expense Statements - Do I need to File This?

Thanks!

ps158

in Taxes 9 years and 7 months ago

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ps158 | 9 years and 7 months ago

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I was just on the NYC Dept of Finance website and saw this as one of their main announcements: REAL PROPERTY INCOME AND EXPENSE (RPIE) STATEMENTS: “Finance needs income and expense information each year to value your property accurately. The RPIE- 2014 statement must be filed online unless you request and are approved to file a paper version. The deadline to file is June 1, 2015.” http://www1.nyc.gov/site/finance/taxes/property-rpie.page We purchased a 2-family house last last year (we live in one part of house and rent out one floor). Is the RPIE Statement something I need to file? We are new to this – being a homeowner/landlord – and don’t know anything about this type of stuff. Is there anything else in the vein of taxes / filing stuff / reporting stuff that I need to know as a new homeowner and landlord? Thanks!

mozeeatupu | 9 years and 7 months ago

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You don’t have to file an RPIE but you do have to file the paper saying you do not have to file. Seriously. EDIT: You would check off B on the electronic form and submit. All income producing properties have to submit this form. SECTION D – RPIE EXCLUSIONS TO BE COMPLETED ONLY IF YOU ARE NOT REQUIRED TO FILE AN RPIE 1\. I am not required to file an RPIE for this year because my property: b. ? is exclusively residential with 10 or fewer apartments.

majorhints | 9 years and 7 months ago

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its only 10+ family buildings that have to file.

Putnamdenizen | 9 years and 7 months ago

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I’ve never heard of that and never filed it. I own a two family.

nancyk | 9 years and 7 months ago

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Residential proprties w/less than 10 units do not need to file. http://www1.nyc.gov/assets/finance/downloads/pdf/rpie/rpiefilinginfo.pdf