Rental Property Organizer - 2026 Logo
  • Rental Tax Organizer

  • About this Organizer

    This organizer is provided to help you gather and organize information relating to preparation of your tax return. Where indicated, we have provided additional worksheets and other specialized organizers where you can provide additional important information.
  • You need to report rental income and expenses if you rented real estate for a profit for more than 14 days during the year. If you had rental income but did not rent property for a profit, you must still report income and expenses, but additional rules apply.

  • Report income and expenses for each property separately using sections A, B, and C if applicable. Do not combine income and expenses for multiple properties.

    If you purchased or sold a rental property during the year, please bring copies of the HUD-1 settlement statement and closing papers for each sale, purchase, or refinance.

    If you are a first-time customer of Pacific Northwest Tax Service, please bring us copies of your prior 2 years of returns and depreciation schedules.

    Improvements to property must be depreciated. Examples of improvements include:

    o   New roof, deck, fence, or siding

    o   New furnace, dishwasher, range, or other appliance

    o   Remodeling, room additions, electrical, and plumbing upgrades

    o   Landscaping, trees, and shrubs

    o   New carpet or other flooring and insulation

    o   New cabinetry or furnishings

    Complete the “Asset Depreciation Worksheet” at the bottom of this page for all improvements made during the year. Use this rental property organizer to assist with organization of your business information and records.

    If you use QuickBooks, Quicken, or Excel, you can provide us with a backup file of your records rather than completing the income and expense sections of this organizer.

    If you would like our accounting staff to prepare a business profit and loss for you, we will need you to provide us with the following documents:

    o   Business bank statements and credit card statements for all months of the year

    o   Receipts for cash purchases not shown on bank or credit card statements

    o   Checkbook register (identify all checks by entering an expense category in the memo section)

    To minimize accounting and bookkeeping errors and costs, we strongly recommend you do not mix personal and business expenses. You may transfer funds to and from your business and personal accounts.

    Identify a personal withdrawal of funds from your business account as “Owner Draw”

    Identify a deposit of personal funds to your business account as “Owner Contribution”

    If you made payments of $600 or more during the year to an attorney or an unincorporated business such as an LLC, sole-proprietor, or landlord, you must issue Forms 1099-MISC to these businesses or individuals.

     

    • Asset Depreciation Worksheet 
      • You must report the purchase and disposition of all assets you used in your business.
      • Provide the following information for each asset bought or sold this year: (Eg: new carpet, roof, stove, computer, car)
    • Business Use of Automobile 
    • IMPORTANT: you must keep documentation to prove business use of a vehicle.

      If you used your automobile for active conduct of your rental business, you can claim expenses for business use of your vehicle. You must have proof of business use in the form of a mileage log or a written calendar unless you can show your vehicle was 100% business use.

      You may be eligible to claim a standard mileage rate or claim actual operational expenses for your vehicle. In either case, you must maintain written records to support your deduction.

    • Travel Expense Worksheet 
    • Meal Per Diem (important facts)

      • For each day you traveled away from home for your rental business outside the metro area, you may claim the actual cost of your lodging and meals. For meals only, you may claim a daily per diem amount instead of the actual costs.
      • The daily per diem amount varies depending on the city and country you traveled to. To calculate the per diem amount you can claim, provide details of each city that you travelled to for business during the year and the number of days in each city. PNW Tax will determine the rate and total deduction amounts, so leave those columns blank.
      • You can alternate between actual expenses and the per diem method for each business trip; however you may not use both per diem and actual for the same business trip.
      • Please indicate which rental property you traveled for by entering Property A, B, C, or D next to the city visited.
    • Property Information 
    • Property A

    • Property B

      Please complete this section if you have a 2nd rental property
    • Property C

      Please complete this section if you have a 3rd rental property
    • Property D

      Please complete this section if you have a 4th rental property
    • If you have more than 4 rental properties please provide requested information in a seperate file. Please either upload the document to your portal account or drop it off at one of our offices. 

      Thank you

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