Rental Property Tax Prep
Checklist 

Property Information

• Property address(es)

• Date property was placed in service

• Type of property (single-family, multi-family, Airbnb/short-term, etc.)

• Ownership percentage (if co-owned)

• Personal use days (if applicable)

Income Documentation

• Total rental income received

• Form 1099-K / 1099-MISC (if applicable)

• Short-term rental platform statements (Airbnb, Vrbo, etc.)

• Security deposits retained as income

• Other income (late fees, pet fees, and cleaning fees charged to tenants)

Operating Expenses

• Property management fees

• Advertising and marketing

• Cleaning and maintenance

• Lawn care/pest control

• HOA dues

Repairs & Maintenance

• Repairs (fixes that keep the property in good condition)

• Supplies and small tools

• Appliance repairs

Utilities

• Electricity

• Water and sewer

• Gas

• Trash service

• Internet (if provided to tenants)

Professional Services

• Legal fees

• Accounting/tax prep fees

• Bookkeeping

Insurance

• Landlord insurance premiums

• Liability insurance

Mortgage & Property Costs

• Mortgage interest (Form 1098)

• Property taxes

• Loan fees (points, refinancing costs)

Depreciation & Assets

• Purchase closing statement (HUD-1 or Closing Disclosure)

• Cost of property (excluding land)

• Improvements (roof, HVAC, remodels, additions)

• Furniture, appliances, and equipment purchased

• Date each asset was placed in service

Vehicle & Travel (if applicable)

• Mileage for property visits

• Travel expenses (airfare, lodging for out-of-town properties)

• Parking and tolls

Home Office (if applicable)

• Square footage of the home office

• Total home square footage

• Expenses (rent, utilities, internet, etc.)

Other Important Information

• Prior year depreciation schedule

• Carryover losses (if any)

• Refinancing details during the year

• Any property converted to or for personal use

• New property purchases or sales

Documents to Upload

• Closing documents (purchase or sale)

• Mortgage Form 1098

• Property tax statements

• Expense summaries

• Rental income reports (platform or bookkeeping software)

• Prior year tax return (if new client)

Short-Term Rental (STR) Additional Info

• Average stay length

• Services provided (cleaning during stay, meals, concierge, etc.)

• Material participation details 

​

​

_________________________________________________________________________

Quick Notes for Clients

• Keep separate records per property

• Separate repairs from improvements 

• Maintain clear documentation for all expenses