What is Schedule E?

A landlord who owns rentals in their own name (or through a single-member LLC treated as a disregarded entity) typically reports each property's rent and expenses on Schedule E, Part I, with one column per property.

The form lists standard expense lines, including advertising, cleaning and maintenance, insurance, legal and professional fees, management fees, mortgage interest, repairs, supplies, taxes, utilities and depreciation. Depreciation itself is calculated on Form 4562 and carried to Schedule E.

Keeping books by Schedule E category through the year turns tax time into a summary rather than a reconstruction. This is general information, not tax advice; a tax professional can confirm how your rentals should be reported.

Free resource: Rental property expense categories.