Tax documents

3 Replies

Easy question here, I hope. I just started renting out my first house and Im trying to find out what tax documents I need to file when i collect the monthly rent. Im assuming I need to fill those docs out monthly. Is this correct?

Not sure what you might be referring to but there are no monthly tax documents that you need to file to collect rent.  You just need some sort of system or method, which could be anything from a software program to an old school ledger, for keeping track of your income/expenses for when you file your yearly taxes.

Ah. Excellent. Thanks. I had a buddy when I was in the military that had a slew of rentals and he did taxes on a monthly basis for whatever reason. So, I assumed I needed to also.

Originally posted by @Robert Norvell :

Easy question here, I hope. I just started renting out my first house and Im trying to find out what tax documents I need to file when i collect the monthly rent. Im assuming I need to fill those docs out monthly. Is this correct?

 Hey Robert,

Congratulations! you should look into the resource tab to see if you can locate the document which you are looking for.

Good luck!

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