🧾 Schedule E Checklist for Investment Property Owners
Use this list to organize your rental property records before filing taxes. This applies whether you own a single rental or manage multiple units.
🏠 Property Information
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Property address(es)
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Ownership percentage (if shared ownership)
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Rental start and end dates (if partial year)
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Number of days rented and days used personally
💵 Rental Income
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Gross rents collected (monthly or total)
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Refunds of security deposits kept
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Late fees, pet fees, or application fees collected
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Laundry, parking, or other services income
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1099-K forms (from platforms like Airbnb, if applicable)
💸 Common Deductible Expenses
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Mortgage interest (Form 1098)
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Property taxes
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Homeowners/landlord insurance
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Utilities (electric, gas, water, trash, sewer, internet)
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Property management fees
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Leasing or advertising costs
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Maintenance and repairs
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Supplies (e.g., paint, tools, smoke detectors)
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HOA fees
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Pest control
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Legal/accounting/bookkeeping fees
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Bank service charges
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Mileage or travel (site visits, hardware store runs)
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Depreciation schedule (from previous year’s return)
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Capital improvements (kept separately from repairs)
🧾 Documents to Gather
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Year-end bank statements
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Invoices or receipts for all expenses
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Closing documents (if bought or sold a property)
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1098 mortgage statement
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Prior year tax return (if continuing depreciation)
💼 If You Use QuickBooks or Another Software
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Year-end Profit and Loss by property (class/location)
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General ledger report
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Expense detail (categorized and matched with receipts)
🧠 Pro Tips
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Keep separate bank accounts for each property
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Track mileage in an app (like MileIQ or QBO’s built-in tracker)
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Use Classes in QuickBooks to separate properties
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Review your depreciation schedule annually with your tax pro
Would you like me to:
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Turn this into a printable PDF version?
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Format it for Google Docs or Canva so you can brand it?
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Add a section for Short-Term Rentals (Airbnb, VRBO)?
