Schedule E (Rental Property) Checklist

This list may not cover all the income and expenses for your particular rental property. If you are not sure of the deductibility of an expense, provide the documentation anyway and we will make the determination.

Income:

  • Rents Received

Expenses:

  • Advertising
  • Auto Travel (written mileage to and from property to collect rent or make repairs)
  • Cleaning & maintenance costs
  • Commissions paid
  • Insurance costs
  • Legal & Professional fees paid
  • Management fees paid
  • Mortgage Interest paid (Form 1098 from mortgage company)
  • Repair Costs
  • Supplies
  • Real Estate Taxes paid
  • Utilities paid
  • Lawn care & snow removal costs
  • Other costs not listed here (provide details)
  • List of new assets, including remodeling & improvements (cost and date acquired)

 **PLEASE NOTE** 

All payments totaling $600 or more to any vendor must be provided and a 1099 will be issued if necessary.   A W-9 should be received from each vendor, indicating name, address, and Tax ID number.