Tax Time Documents for Landlords

System - Wednesday, November 8, 2017
Property and Taxes
Get a head start on tax time by beginning to gather these documents now. You’ll be able to file faster, receive any refund quicker, and generally be able to make what can be a complex process a whole lot easier for you and your tax accountant. It can be difficult to remember all the docs you need, so here’s a reminder list of things you’ll need for your tax returns as a landlord:

Expense Receipts


Most, if not all, of your expenses as a landlord will be tax deductible, so you’ll want to gather your receipts for such things as:Rental items like steam cleaners, power washers, etc.

  • Services rendered, including property management services, lawn care, roof repair, electrical and plumbing repairs and maintenance.

  • Marketing and advertising expenses; such as having property descriptions written up, photography costs, online ads, and print media advertising costs.

Permit Records

 If you’ve ever applied for and received permits for fences, outbuildings, additions, or anything else on your rental property, make sure you retain all those records for legal reasons as well as for the deduction on permit application fees.


Leases and Addendums

 These agreements won’t be submitted with your tax return, but they will be helpful for your tax accountant to review in order to confirm the rent owed and paid over the course of a year, as well as any charges like overdraft fees or late rent penalties.


Property Purchase Documents


Your tax accountant firm can better help you in getting the maximum for property ownership if you provide them with your purchase documents, including mortgage agreements. 

Proof of Security Deposits

You may have to show proof that any security deposit you’ve collected has been deposited into an interest-bearing account on behalf of your tenant.


Bank Statements


Bank statements help your tax account cross-reference that the amount of rent on the property coincides with your rental income on your bank statement.


Company Legal Documents


If you’ve formed any kind of legal entity to hold your real estate investment property, you’ll want to submit those papers so your tax accountant can file your taxes accordingly. Hiring the services of Walker Real Estate for your property management needs makes it very easy for landlords to file correctly at the end of the year. Contact us at (573) 855-9304 to find out more about how convenient we make it for property owners.