Maximize your rental income with accurate tax filing.
Whether you rent an AirBnB or an apartment, we’ll help you choose the right filing path and capture your eligible deductions.
How the IRS taxes rental income
Most rental income, such as from a vacation rental or long-term unit, is treated as passive and reported on Schedule E.
For filers who are providing housing, not hospitality.
This is likely passive income on Schedule E.
This typically requires a separate business return (Form 1065) and issues K-1s to each owner. TaxAct supports both personal and business filings, so you can handle everything in one place.
Join the rental owners who file with TaxAct
Easy to understand directions
“We have multiple investment incomes and Tax Act covers them all. If you keep an account with them the following years are easier because they keep your information so all you have to do is enter the new years numbers.”
@Ecofriendly May 4, 2025
Made filing taxes easy
“I had a few different things come up last year and TaxAct was able to fill out the appropriate forms and guided me through the entire process. Took a lot of stress off me and I got back a good refund. Thanks.”
@David B May 25, 2025
Easy filing
@DJ01 Feb 26, 2025
Before you file, let’s talk deductions.
Know what to deduct and how to save
A quick look at common deductions and credits for investors, plus what you’ll want nearby before you start. Don’t worry if you don’t have it all yet — you can add details as you go.
Mortgage interest & property taxes
Reduce rental income with deductible interest and taxes paid on the property.
Repairs & routine maintenance
Deduct the cost of basic upkeep. Larger improvements are depreciated over time.
Insurance, fees & paid utilities
Claim expenses for insurance, HOA or condo fees, and utilities you cover.
Cleaning, supplies & service fees
Deduct cleaning costs, linens, supplies, and platform service fees for your rental.
Advertising & tenant screening
Expenses for listing your rental or screening guests are fully deductible each year.
Mileage & vehicle costs
Deduct mileage or vehicle costs for trips to the property for repairs or inspections
Depreciation & improvements
Recover the value of your rental over time and depreciate eligible improvements.
What you’ll need to get started:
Rental income totals (including platform payouts)
Expense totals by category (we’ll help you organize)
Property details: in-service date, major improvements, and purchase info for depreciation
Any 1099s you received (if applicable)
What you’ll need to get started:
Rental income totals (including platform payouts)
Expense totals by category (we’ll help you organize)
Property details: in-service date, major improvements, and purchase info for depreciation
Any 1099s you received (if applicable)
Tools made for rental property owners
Even when your return is accurate, audits can happen.Add Audit Defense to get:
Adjusted Gross Income (AGI) Calculator
Estimate your AGI to help plan rental deductions and avoid surprises at tax time.
Try It NowRental Owner Tax Tips
Simple guides on write-offs, 1099 forms, and IRS rules — written for side hustlers.
Explore The Blog
Enjoy peace of mind if the IRS comes calling.
Even when your return is accurate, audits can happen.Add Audit Defense to get:
Enjoy peace of mind if the IRS comes calling.
Even when your return is accurate, audits can happen.Add Audit Defense to get:
Ready to start filing your taxes?
Start FilingFrequently Asked Questions
Yes. If you earn money from renting out property, the IRS requires you to report that income on your tax return. This includes regular rent payments, advance rent, and certain payments made by tenants on your behalf. Rental income is reported even if you only rent the property for part of the year.
