Rental Income Tax Checklist

To prepare your Rental Income Tax, bring in the following details for each rental property:

Income:

  • Gross rent
  • Other related income

Expenses (indicate any personal portions):

  • Advertising
  • Insurance
  • Interest
  • Maintenance and repairs
  • Management and administration fees
  • Motor vehicle expenses
  • Office expenses
  • Legal, accounting and other professional fees
  • Property taxes
  • Salaries, wages and benefits
  • Travel (if rent more than one property)
  • Utilities

If property purchased or sold during the year:

  • Date of transaction
  • Cost on purchase or proceeds on sale