Learning Center

Deducting Long-Distance Travel Expenses As a successful real estate professional, it’s likely that you’re traveling for various reasons—meeting with lenders, investors, or partners, attending conferences, or simply managing your farther rentals. If you find yourself routinely traveling for your rental property business, then the associated expenses will pile up quickly. With the upcoming tax season, […]

IRS Schedule D For Landlords For landlords, navigating the complexities of tax filing can be challenging, particularly when dealing with capital gains and losses. One crucial document to understand is Internal Revenue Service (IRS) Schedule D, which plays a key role in reporting gains or losses from the sale of capital assets. Whether you’re selling […]

IRS Form W-2 The majority of Americans who work under an employer will be receiving a W-2 form this year. If you’ve filed taxes before, then you’ve likely seen a W-2 already; it’s the form that shows how much money you’ve made, as well as any taxes, social security, and Medicare income withheld. If you’re […]

IRS Form 1120S: What Landlords Need To Know For landlords who structure their rental property business through an S Corporation, understanding the purpose and process of filing IRS Form 1120S is essential. This form plays a pivotal role in ensuring accurate reporting of the corporation’s financial activities and compliance with federal tax laws. This guide […]

Report Pass-Through Income With Schedule K-1 Navigating the complexities of tax forms is a daunting task for many landlords, particularly when dealing with entities that use pass-through taxation. IRS Schedule K-1 plays a crucial role in this scenario, serving as a tool for reporting income, losses, and other tax attributes passed through to partners, shareholders, […]

Your Guide To IRS Form 1065 Managing rental properties comes with its fair share of responsibilities, from tenant relations to property upkeep. However, one aspect that landlords cannot overlook is taxation. For those who operate their rental activities through partnerships, IRS Form 1065 becomes an essential part of the income tax filing process. This guide […]

Getting Started With Rental Accounting Software Rental property accounting software is a game-changer for landlords looking to streamline their financial management. Unlike general accounting software, these specialized platforms offer features tailored to real estate investors, such as rental income tracking, property expense management, and Schedule E reporting. Whether you need residential or commercial real estate […]

A Landlord’s Guide To IRS Form 1098 Managing rental properties involves more than collecting rent and maintaining units; it also requires a solid understanding of tax documentation. One such essential document is IRS Form 1098, which landlords should be familiar with. This article provides an overview of what Form 1098 is, what it reports, and […]

Everything You Need To Know About Landlord Tax Documents Navigating tax season as a landlord can feel overwhelming, but understanding the key landlord tax documents you’ll encounter is essential for accurate filing and maximizing your deductions. Whether you own rental property as an individual or through a business entity, knowing how these forms interact and […]

What To Know About IRS Form 1099 Tax compliance is a critical part of managing rental properties, and for landlords, understanding IRS Form 1099 is essential. This form—or, more accurately, this collection of forms—documents various types of payments and income that typically do not come from traditional employment. Here, we explore what IRS Form 1099 […]

A Landlord’s Guide To IRS Form 1040 Tax season can be daunting, especially for landlords who must report rental income and expenses accurately. At the center of the U.S. individual tax filing process is IRS Form 1040, the document that serves as the foundation for reporting your annual income and calculating the taxes owed or […]

Deducting Rental Property Repairs and Maintenance Costs Managing a rental property involves not only collecting rent, but also maintaining the property to ensure it remains in good condition. As landlords and rental property owners, a large portion of this responsibility involves handling repairs and maintenance, which can be costly. Fortunately, these expenses can often be […]