Rental Property

Schedule E · MACRS 27.5yr depreciation · Converted Aug 2025

MACRS depreciation

IRC §168 · 27.5yr straight-line · mid-month convention

Schedule E

Use the lower of FMV at conversion OR your adjusted cost basis.

Check your county's property tax assessment for the land-to-improvement ratio. Land is not depreciable.

Enter a fair market value above to see the depreciation schedule. Or run the setup wizard for guided help →

Mortgage payment splitter

Splits each payment into deductible interest and non-deductible principal

Form 1098

Enter your loan details above to see the interest vs. principal breakdown for each month.

Schedule E summary

0 transactions tagged to rental entity

Rental income (line 3)

$0

Operating expenses

$0

Depreciation

$0

Net Schedule E

$0

No rental transactions yet. Import your bank statements in Bookkeeper and assign them to the Rental entity.

Schedule E category reference

Rental income
Security deposit applied
Interest earned
Late fees / other income
Security deposit received
Security deposit refunded
Advertising
Auto & travel
Cleaning & maintenance
Commissions
Insurance
Legal & professional fees
Management fees
Mortgage interest
Other interest
Repairs
Supplies
Taxes (property)
Utilities
Depreciation (MACRS 27.5yr)
Mortgage payment
Mortgage principal (non-deductible)
Transfer between accounts
Owner draw / distribution
Transfer / owner draw
Other rental expense

Don't miss these:

  • • Mortgage interest (pull from Form 1098)
  • • Property taxes (check your county tax statement)
  • • Insurance (landlord policy, not homeowner)
  • • Repairs vs improvements — repairs deduct now, improvements add to basis and depreciate
  • • Mileage to/from the property: 70¢/mile for 2025 (IRS standard rate)
  • • Start-up conversion costs (cleaning, initial rent-ready repairs)