Table of Contents
VA Form 21P-4185 Printable, Fillable in PDF – Specifically, VA Form 21P-4185 (Report of Income from Property or Business) is a legal document that was produced by the United States Department of Veterans Affairs on April 1, 2018, and is utilized across the nation. As of today, there are no specific filing instructions for the form offered by the department that issued it.
Instructions For Completing VA Form 21P-4185:
Please give precise information about the gross revenue and costs of your property and/or company so that we may assess whether or not you are eligible for any government assistance programs. Make sure to print all of your responses properly. If the answer is “none” or “0,” put that in the space given or draw a line across it. Attach a second page with the item number to which the answers pertain on it if you need more space. If there are any attachments to the form, be sure to include the veteran’s name and VA claim number on each one.
- Rental revenue (sometimes known as net rental income) is the difference between gross rental income and costs. Depreciation and payments made against the principal of a mortgage are not tax-deductible expenditures. You must record the gross revenue received and the proportional share of costs if you own a rental property that is only partly inhabited by the owner. Example: If you own a two-family home that is shared by you and another family, you must disclose the gross income received from the other household as well as one-half of the costs incurred by the house.
- Business income (sometimes known as net business income) is the difference between gross business income and operational expenditures. Depreciation, withdrawals of cash or commodities, and wages paid to you or your partners are not tax-deductible expenses for you or your business partners. Cost of items sold, rent, regular repairs, taxes (other than federal income tax), compensation or wages of workers, insurance, interest on company loans, and other comparable expenditures are all deductible operational expenses.