You manage the property. We'll manage the books.

Individuals who rent out real estate generally report rental income and expenses on Schedule E (Form 1040), Supplemental Income and Loss. A single-member LLC that has not elected corporate treatment usually reports there too. A rental held by a partnership or corporation goes on that entity's own return instead. KiwiBooks keeps each rental's income and expenses on the lines of Schedule E and includes them in your year-end tax export.

A repair that keeps the property in ordinary working condition, such as fixing a leak or repainting between tenants, is generally deducted in the year you pay for it. An improvement that adds value, extends the property's life or adapts it to a new use, such as a new roof, is generally depreciated instead, over 27.5 years for residential rental property. In KiwiBooks a repair goes to Repairs on Schedule E, and an improvement is recorded as an asset with the recovery period you choose. Your tax preparer can confirm how to treat a specific cost.

Yes. Each business in KiwiBooks has its own books and its own Schedule E totals, so you can set up each rental separately. The Free plan includes your personal finances plus 1 business; Pro includes up to 9 businesses, all under one login.

Generally, yes. Local trips to collect rent, meet a contractor, or manage and maintain a property are deductible rental expenses. Log each trip in KiwiBooks, by GPS when you start and stop it or by hand, and the mileage deduction posts to Auto and Travel on your Schedule E.