Homes & rentals
Selling a home, renting out a property and keeping the records that separate repairs, improvements and changes in use.
Homes & rentals
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Homes & rentals 2 min
A booking confirmation is not a rental permit
Keep permit history with your booking records because local compliance can affect federal expense deductions.
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Homes & rentals 2 min
The whole house bill is not always a rental expense
Separate direct rental costs, shared costs and personal use with a method supported by floor area and dates.
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Homes & rentals 2 min
Last month's rent is not a damage fund
Identify what a deposit is for, track its application and keep it separate from ordinary monthly rent in the ledger.
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Homes & rentals 3 min
A contractor's invoice can contain two different tax treatments
Separate routine restoration from lasting improvements and preserve the details behind each classification.
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Homes & rentals 3 min
Claire's bathroom invoice needed more than one total
Separate qualifying accessibility work from cosmetic changes, apply the shared expense limit and avoid the medical-credit double claim from 2026.
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Homes & rentals 2 min
The rent went into one account. Two owners still had to report it.
Reconcile the whole property, establish ownership shares and keep the gross and net reporting steps separate.
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