For landlords and rental owners
Receipt tracking for landlords
Every repair, service call and utility bill on a rental is a record you may need at tax time, and later when you sell. Rental income and expenses go on Schedule E, and the IRS asks you to keep repairs and improvements separate. BookFlash keeps those receipts organized and easy to export.
Sound familiar?
Repairs happen at random
A plumber on Tuesday, a hardware run on Saturday. Receipts arrive whenever something breaks, not on a schedule.
Repairs vs improvements
Repairs can be deducted in the year you pay for them, but improvements have to be depreciated. You need records of both.
Records you’ll need for years
The cost of improvements matters when you depreciate or sell the property, so the receipts need to last.
Receipts worth keeping
Expenses that are commonly deductible for landlords, when they’re ordinary and necessary for your business.
- Repairs and maintenance
- Fixing things that break, cleaning and routine maintenance. Improvements are depreciated instead.
- Mortgage interest
- Interest on loans for the rental property.
- Property taxes
- Real estate taxes on the rental.
- Insurance
- Landlord and property insurance premiums.
- Utilities
- Utilities you pay for the rental, rather than your tenants.
- Advertising
- Listing fees and ads to find tenants.
- Management and professional fees
- Property managers, accountants and legal fees for the rental.
- Local transportation
- Trips to the property for rental business, such as repairs or showings.
General information, not tax advice. Check with a tax professional for your situation.
How BookFlash helps
- 01
Save it the day you pay
Photograph the contractor invoice or hardware receipt, or upload the PDF. It’s kept even if the paper isn’t.
- 02
AI reads the details
BookFlash reads the vendor, date, amounts and tax, and suggests a category that you can change.
- 03
Export for Schedule E
On Pro or Business, download any period as a PDF or CSV for your tax preparer, with every receipt image on file.
Common questions
- Can I track receipts separately for each property?
- Not yet. BookFlash organizes receipts by date, vendor and category. If you own several rentals, Pro and Business let you export a CSV and total each property in a spreadsheet.
- How long should I keep rental receipts?
- Keep improvement records for as long as you own the property and for several years after you sell it, because they affect depreciation and your gain on the sale.
- Does BookFlash tell me what’s a repair and what’s an improvement?
- No. That depends on the details of the work, so check with a tax professional. BookFlash makes sure you have the receipt either way.
- What does it cost?
- The Free plan covers 10 receipts a month, which is plenty for many single-property landlords. Pro is $9.99 a month for 150 receipts.