Schedule E expense tracker for rental property
A free Excel tracker whose expense categories are the IRS Schedule E lines — not invented buckets. Log costs as they happen, and at tax time each property's totals line up with the form.
.xlsx · opens in Excel, Google Sheets, Numbers or LibreOffice · free, no watermark
Last updated September 2026
Schedule E expense categories, line by line
These are the dropdown options in the Expenses tab, in form order.
| Line | Category | What belongs here |
|---|---|---|
| 5 | Advertising | Listing fees, signage, photography for a vacancy. |
| 6 | Auto and travel | Mileage to the property, or actual vehicle costs. Keep a log. |
| 7 | Cleaning and maintenance | Turnovers, landscaping, snow removal, pest control, gutters. |
| 8 | Commissions | Leasing commission paid to an agent to place a tenant. |
| 9 | Insurance | Landlord policy, umbrella coverage, flood. |
| 10 | Legal and other professional fees | Attorney, eviction filing, tax prep for the rental. |
| 11 | Management fees | Property manager's monthly percentage. |
| 12 | Mortgage interest paid to banks | Interest only — take it from the 1098, never from payments. |
| 13 | Other interest | Interest on a loan used for the property that is not the mortgage. |
| 14 | Repairs | Restores to working order. Deductible now. |
| 15 | Supplies | Filters, bulbs, locks, small consumables. |
| 16 | Taxes | Property tax, and any local rental licensing tax. |
| 17 | Utilities | Only the ones you pay, not tenant-paid accounts. |
| 18 | Depreciation | The building over 27.5 years, plus capitalized improvements. |
| 19 | Other | HOA dues, bank fees, software, licensing — label each clearly. |
General information for residential landlords, not tax advice. Line numbers reflect the current Schedule E (Form 1040); confirm against the form for your filing year and talk to your accountant about your own situation.
How to use it through the year
- Log each expense the week it happens, with the property and the category from the dropdown.
- Note the vendor and keep the receipt filed under the same month — the tracker is your index, not your archive.
- Never guess mortgage interest; wait for the 1098 and enter the real number once a year.
- Flag anything over about $2,500 that might be an improvement and decide, at the time, whether it is depreciated.
- At year end, read the Annual Summary tab's expenses-by-category breakdown per property and copy the totals onto the form.
The categorization traps
Improvements filed as repairs. A full roof replacement is not a repair, however much it felt like one.
Principal deducted as interest. Only line 12 interest, taken from the 1098.
Security deposits treated as income. A deposit you still hold is a liability. It only becomes income when you keep it.
Personal-use costs mixed in. If you occupy part of the property or use it personally part of the year, expenses must be allocated — not claimed in full.
Schedule E tracking FAQs
- What expenses go on Schedule E?
- The fifteen lines the form itself provides: advertising, auto and travel, cleaning and maintenance, commissions, insurance, legal and professional fees, management fees, mortgage interest, other interest, repairs, supplies, taxes, utilities, depreciation, and other. If a cost does not obviously belong to one of those, it usually belongs on line 19 with a clear label rather than being force-fit somewhere tidier.
- What is the difference between a repair and an improvement?
- A repair keeps the property in working order and is deducted in the year you pay it — patching a roof, fixing a furnace, replacing a broken window. An improvement betters the property, restores it substantially, or adapts it to a new use, and must be capitalized and depreciated — a new roof, a kitchen remodel, an addition. The practical test: are you fixing something, or upgrading it? Miscategorizing improvements as repairs is the single most common Schedule E error.
- Can I deduct my mortgage payment?
- Only the interest portion, on line 12, and you should take it from the lender's year-end Form 1098 rather than adding up payments. Principal is not deductible — it is paying down a debt, not an expense. Escrowed property tax and insurance are deductible when the escrow actually pays them, on their own lines.
- Do I need a separate Schedule E column for each property?
- Yes. Schedule E gives you three property columns per form and expects income and expenses reported per property, not as a portfolio blob. The tracker totals each property separately for exactly this reason, so filling out the form is a copy job.
- What records do I need to back up the deductions?
- A receipt or invoice for each expense, the bank or card statement showing it cleared, the year-end 1098 for mortgage interest, a mileage log for auto and travel, and closing documents and improvement invoices for the depreciation schedule. Keep them at least three years after filing; keep anything touching cost basis for as long as you own the property.