Instructions: rental and business income
The form defines net rental income as gross rental income less expenses, and net business income as gross income less operating expenses, and lists what is and is not deductible for each.
21P-4185
Report of Income from Property or Business
VA Form 21P-4185 is the U.S. Department of Veterans Affairs Report of Income from Property or Business. The instructions ask for specific information about the gross income and expenses of the claimant's property or business, so VA can determine eligibility for benefits. VA's form page lists it under pension and family member and caregiver benefits.
The form is two pages. Page 1 explains how the form defines net rental income and net business income, then asks about the rental property or business and its expenses. Page 2 works out gross income, total expenses and net income, with extra lines for property or a business owned jointly.
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The form defines net rental income as gross rental income less expenses, and net business income as gross income less operating expenses, and lists what is and is not deductible for each.
The Veteran's name, the claimant's name if other than the Veteran, the claimant's mailing address, the VA file number and a telephone number.
The portion of rental property the claimant occupies, the rental property's address and description, the business address and type, and stock inventory values.
Lines 1 to 12 cover taxes, utilities and fuel if furnished, insurance, mortgage interest, normal repairs, cost of goods sold, rent, employees' salaries, interest on business debt and other expenses, for two periods.
Gross income, total expenses and net income from the property or business, then the claimant's share, fractional ownership and the other owners when it is owned jointly.
Remarks, the certification with the claimant's signature in ink and date, daytime and evening phone numbers, and two witness lines for a signature by mark.
The instructions explain net rental and business income. For a rental the owner partly occupies, they say to report the gross income received and the proportionate part of the expenses.
Print all answers clearly. If an answer is none or 0, the form says to write that or line through the space.
Enter the period dates in 12B and 12C. If no dates are shown, 12B reports last calendar year and 12C the current calendar year. The form says not to list personal expenditures.
Report gross income in line 1 of Item 13, total expenses from line 12 in line 2, and net income in line 3 by subtracting line 2 from line 1. Lines 4 to 6 apply only to joint ownership.
For more space, attach a separate sheet showing the item number. The form says to write the Veteran's name and VA claim number on any attachments.
Sign Item 15A in ink, enter the date in 15B and give daytime and evening phone numbers in Item 16.
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This edition of the form does not print a mailing address, and VA's form page offers the PDF download only.
The form points to www.va.gov, https://www.va.gov/contact-us and the toll-free number 1-800-827-1000. The TDD number is 711. VA forms are at www.va.gov/vaforms.
The notice says a response is required to obtain or retain benefits and that the information is subject to verification through computer matching programs with other agencies.
The current edition is dated MAY 2024. It carries OMB Control No. 2900-0108, which expires 05/31/2027, with a respondent burden of 30 minutes.
21P-4165
106 fields, 3 pages
21P-0969
428 fields, 11 pages
21P-527EZ
477 fields, 17 pages
21P-534EZ
626 fields, 20 pages
21P-535
222 fields, 10 pages
21P-8416
517 fields, 10 pages
Items 6 to 8 ask what portion of the rental property the claimant occupies, its address and a brief description with the number and type of units.
Items 9 to 11 ask for the business address, the type or nature of the business and the value of its stock inventory at the beginning and end of the current calendar year.
Item 1 names the Veteran and Item 2 the claimant if other than the Veteran. Attachments carry the Veteran's name and VA claim number.
Lines 4 to 6 of Item 13 are for property or a business owned jointly. If a spouse or dependent children are joint owners, the form says to report their net income in Item 14, Remarks.
If the claimant signs with an X, two people who know the claimant personally witness it and give their signatures and addresses in Items 17 and 18.
The form names these people in its items and instructions.
The agency’s own page for Form 21P-4185.
The official blank form, to print or fill by hand.
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The instructions say it gives VA specific information about the gross income and expenses of a claimant's property or business, so VA can determine eligibility for benefits.
Gross rental income less expenses. The form says depreciation and payments on the principal of a mortgage are not deductible.
The form says to report the gross income received and the proportionate part of the expenses. Its example is a two-family house shared with another family: report the gross income from the other family and one-half of the expenses.
It lists cost of goods sold, rent, normal repairs, taxes other than Federal income tax, salary or wages of employees, insurance, interest on business debts and similar expenses. It says depreciation, withdrawals of cash or merchandise, and salaries paid to the owner or partners are not deductible.
Complete lines 4 to 6 of Item 13 with your share of the net income, your fractional share of ownership and the names, addresses and shares of the other owners. Net income of a spouse or dependent children who are joint owners goes in Item 14.
The form lists www.va.gov, https://www.va.gov/contact-us and the toll-free number 1-800-827-1000, with TDD at 711.