If you own rental property this spreadsheet is a must have. Rental property expenses are always difficult to organize and track. This spreadsheet changes that by making it easy for you to track all your rental income expenses throughout the year and presenting you with a single page summary, making tax time much easier. Expenses are categorized according to the categories the IRS provides in their Schedule E form.
The first tab on this Excel template contains the annual summary of all your rental income and expenses broken down by categories and by month. The subsequent tabs are organized by month and are where you enter and track your income and expenses. To make tracking mileage easier we have provided a mileage calculator to the right of the expense columns. Be sure to enter the IRS approved mileage rate at the top of the table. Then whenever you have mileage to expense enter the miles in the mileage table to calculate the dollar amount of the mileage and add that amount to the expense amount column. Give this template a try and you’ll soon learn how easy it is to track your rental property expenses. Below are sample images of both the summary page and the monthly detail page. Click on the Excel link above to download this template.
Monthly Detail Page: