March 1, 2022

Rental Property Tax Resources for Landlords

As a landlord, filing your rental property taxes can be daunting. As deadlines approach and it’s time to prepare your forms, you may have several questions on your mind. Today, we feature resources prepared by some of our partners, and assemble a list of tools that will help you through the process of preparing your taxes.

Rental Property Tax Resource Guide for Landlords

rental property tax

What is a 1099 Tax Form?

You will need to familiarize yourself with the various tax rules that apply to landlords. This includes those related to the 1099 tax form, which continues to confuse property investors everywhere. When do you need to send a 1099? What should you do if you receive a 1099? What’s the difference between a 1099-MISC and a 1099-NEC? This article covers what you need to know about the 1099 tax form, as well as the particular requirements for landlords.

What is a 1099 Tax Form For? 1099 Requirements for Landlords

Rental Property Tax Deductions You Need to Know

Investing in rental properties offers more tax benefits than nearly any other form of investment. These benefits are often the difference between making a profit on your rental investment and losing money. Here are the top 8 rental property tax deductions that landlords can take advantage of:

  1. Rental Property Depreciation
  2. Mortgage and Other Interest
  3. Maintenance and Repair
  4. Local and Long-Distance Travel
  5. Professional Services and Independent Contractors
  6. Home Office
  7. Casualty, Disaster, and Theft Losses
  8. Insurance

Read more:

8 Rental Property Tax Deductions Landlords Need to Know

In Case You Missed It: 8 Tax Tips for Landlords

We examine how rental income is taxed and share 8 tips you can follow to simplify your tax return filing. Learn how to maximize the tax advantages available to rental property investors.

Our 8 Tax Tips:

  1. Keep Good Records
  2. Know the Tax Return Deadlines
  3. Understand the Difference Between Improvements and Repairs
  4. Track Your Mileage to Deduct Travel Expenses
  5. Depreciation
  6. Claim Home Office Deduction
  7. Qualified Business Income Deduction (QBI)
  8. Use Software Tools to Automate

Read more:

Rental Property Taxes: 8 Tax Tips for Landlords

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