Just in case you don't know, you are required to send your renters a certificate of rent paid (CRP) form by the end of this month. The form is free and most investors mistakenly think it costs them in some way to issue the form. You can get the Minnesota Tax form here https://www.revenue.state.mn.us/Forms_and_Instruct...
and the instructions to fill it out are here https://www.revenue.state.mn.us/Forms_and_Instruct...
Thanks, Tim! I did mine this weekend and got sick of manually filling out the PDF form. I set up a nearly-automatic process to generate them. If anyone else is in that boat and wants help, you can send me a note.
@Dominic Scheck how do you automate that?
Nothing fancy. I made a Word version of the PDF, tinkered to get the formatting right, inserted mail-merge fields, made a spreadsheet with a row for each tenant and a column for each piece of info in the CRP, did the mail merge in Word (generating a CRP for each tenant), and then saved the CRPs as PDFs. It required upfront work, but now I can do all my CRPs every year in under 15 minutes. The ROI on that initial time investment will be huge.
@Dominic Scheck I sent a college request with a DM.
@Tim Swierczek thank you for the info!
Thank you for the information! @Tim Swierczek
@Tim Swierczek These may seem like dumb questions however I just want to be clear as this is my first time completing these (also it's exciting that it's my first full year owning a rental). The property is a duplex that I house hack. For the field in the CRP form "Number of Units on This Property" I assume I would put two (2)? For the unit I live in, I also have a roommate who lives with me and signed a lease with me that started halfway through 2018. I assume on his CRP form in the field "Number of Adults Living in Unit" I would need to put 2? Even though he is the only one who pays rent in the unit I live in with him?
@Josh Cook I believe you are correct. That is how I would do it in your situation.
@Tim Swierczek okay great thanks!