Income
- Total rent received for each property for the year, from your rent ledger, matched to bank deposits.
- Any other rental income, such as fees or advance rent, and any security deposits you kept. Check how the IRS treats each in Publication 527.
- Any 1099 forms you received that relate to the rental.
Expenses
- Total your expense log by category. The Schedule E guide lists the form's expense lines.
- Confirm each large item has a receipt or invoice saved, and note any repair-versus-improvement questions to ask a tax professional.
- Mortgage interest and property tax statements for each property.
Property and lease records
- Update your rent roll with current leases and rents.
- Keep purchase and improvement records for the life of the property; they may matter for depreciation and sale.
Before you hand it off
- Back up the spreadsheets and the folder of receipts.
- Write down open questions for your preparer instead of guessing.
- Retention periods are covered in the IRS guidance on how long to keep records.
General information, not tax or legal advice. Your situation and state rules may differ.