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Updated about 6 years ago on . Most recent reply

User Stats

52
Posts
12
Votes
Jim Truman
12
Votes |
52
Posts

Spreadsheet for tracking expenses/income and Basic tax question

Jim Truman
Posted

Hello, I am putting together our annual information for my CPA. This is the first year with an investment property. I use a spreadsheet for my wife's LLC to track her business expenses and income but I'm wondering if anyone has a basic spreadsheet they use for their rental properties that they're willing to share? I could modify the one I use for my wife but I thought I'd see if anyone has one they like to use.

Also, is there a basic guide somewhere on what expenses are deductible? Are any of the initial purchase expenses deductible as business expenses (appraisals, finance charges, etc?) I assume costs such turning on the utilities in my name are business expenses. Management fees, tenant placement, initial repairs for move in, etc, are deductible.

Obviously this will all run through my CPA but I'd like to have everything categorized and ready to go for him.

Thanks

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