Rental Property Expense Tracker
Organize rental income and expenses into IRS Schedule E categories with tax-ready summaries.
$5
Works with the AI tools you already use
Claude Code
Cursor
Codex CLI
Muse
Dots+22 moreClaude CodeCursorCodex CLIMuseDots
OpenClaw
Manus
Grok
Grok Bot+18 agentsRental Property Expense Tracker
Example session with this skill installed
I have a rental at 123 Oak St. Rent was $24,000. I spent $1,200 on insurance, $500 for a broken pipe, $3,000 in property taxes, and $8,000 in mortgage interest. I used it for 5 days myself.
- Read your context and instructions
- Compiled the rental property expense
- Generated the document
The financial summary for 123 Oak St has been organized according to IRS Schedule E categories.
Rental Property Expense Summary: 2023
| Property | Type | Gross Income | Total Expenses | Net Income (Loss) |
|---|---|---|---|---|
| 123 Oak St | Long-term | $24,000 | $12,700 | $11,300 |
| TOTALS | $24,000 | $12,700 | $11,300 |
Property Details: 123 Oak St
- Type: Long-term rental
- Ownership: 100%
- Days Rented: 360 days
- Personal Use Days: 5 days
- Tax Treatment: Full rental activity (Schedule E)
Income Breakdown
| Source | Amount |
|---|---|
| Rents received | $24,000 |
| TOTAL INCOME | $24,000 |
Categorized Expenses (Schedule E)
| Line | Category | Amount |
|---|---|---|
| 9 | Insurance | $1,200 |
| 12 | Mortgage Interest | $8,000 |
| 14 | Repairs | $500 |
| 16 | Taxes | $3,000 |
| 18 | Depreciation | $0 (Not provided) |
| TOTAL EXPENSES | $12,700 |
Performance Analysis
| Gross Income | $24,000 |
| Total Expenses | ($12,700) |
| Net Income (Loss) | $11,300 |
Tax Considerations & Flags
- Safe Harbor: You may qualify for the QBI (Section 199A) deduction if you meet the 250-hour service requirement.
Depreciation: Ensure you provide the building's purchase price and land value split to your CPA to calculate line 18 depreciation, which will further reduce your taxable income.
Repairs: The $500 pipe fix is correctly classified as a repair as it restored the property to its original condition.
Next steps
- Gather your Form 1098 from your lender to verify the exact mortgage interest paid.
- Identify the cost basis of the building (excluding land) to calculate annual depreciation.
- Save all receipts for the $500 plumbing repair in case of an audit.
rental-property-expense-tracker.pdf
PDF · document
Example file from a real run - the skill writes it into your workspace.
Connects securely to your tools. The creator never sees your data.
What you get
About this skill
Take control of your rental property finances. This skill organizes all your rental income and expenses into proper IRS Schedule E categories, calculates net operating income, and generates tax-ready summaries. Ideal for landlords and property managers who want accurate records without the complexity of accounting software.
What it does
- Standardizes categorization by mapping every expense to the correct IRS Schedule E line item.
- Analyzes profit and loss for each individual property to identify high-performing assets or losses.
- Flags tax implications for mixed-use properties, short-term rentals, and passive activity loss rules.
- Distinguishes capital improvements from standard repairs to ensure correct depreciation treatment.
- Generates audit-ready summaries that can be handed directly to a CPA or entered into tax software.
How it works
- Provide property details including address, type, and occupancy days for the tax year.
- Input raw income data from rents, pet fees, or short-term rental platform payouts.
- List expenses in any format, from utility bills to major contractor invoices.
- The skill generates a structured Markdown report with property-by-property itemization and a global summary.
Frameworks & tools
This tool is built for individual U.S. property owners filing IRS Form 1040, Schedule E. It uses standard tax categories including Section 280A(g) and Section 199A QBI guidelines.
Why this beats prompting it yourself
Generic prompts often fail to distinguish between deductible repairs and depreciable improvements or ignore the critical 14-day personal use rule. This skill enforces rigorous accounting logic to prevent common filing errors.
Use cases
- Preparing annual financial summaries for a CPA or tax preparer.
- Evaluating the profitability of a newly acquired short-term rental.
- Organizing messy spreadsheets or receipts into a clean reporting format.
- Calculating rental-use percentages for vacation homes used as rentals.
Known limitations
This skill is designed for U.S. individual taxpayers only. It does not calculate precise depreciation schedules or provide legal advice. Property purchase details and prior year data must be provided by the user.
How to install
Works the same in every agent - Claude, Cursor, Codex, Copilot and 20+ more.
- 1
Download the ZIP
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- 2
Unzip into your skills folder
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- 3
Ask your agent to use it
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