Long-Term & Vacation Rentals
Rental property tax preparation in Bradenton and Sarasota, FL
Rental income has its own set of IRS rules, and most of them are easy to get wrong if you’re doing your own return or working with someone without specialized knowledge of rental property. We prepare returns for property owners with long-term rentals, short-term rentals like Airbnb, and mixed-use situations.
How it works
If you own rental property, your taxes aren’t simple anymore
Once rental income is in the picture, your tax return gets more complicated than most preparers are used to handling. Whether you just listed your first unit on Airbnb or you’ve owned rentals for years, there are things that are easy to get wrong: depreciation, expense categories, repairs vs. improvements, how to split costs on a property you also use yourself.
We see it often. A landlord files with TurboTax and never starts depreciation. A preparer at a chain office classifies a roof repair as an improvement, which changes the deduction by thousands of dollars. Or rental income just isn’t reported the way the IRS expects.
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What’s included in your rental property tax return
Your rental property return is filed on Schedule E as part of your Form 1040. We handle the full return, not just the rental portion.
Rental income reporting
All rental income for the year: rent collected, security deposits applied, and any other payments from tenants.
Expense deductions
We go through every deductible expense: mortgage interest, property taxes, insurance, repairs, maintenance, management fees, HOA, utilities, advertising, and professional fees.
Multiple properties
Each property gets its own section on Schedule E. If you own more than one rental, we track income and expenses separately for each one.
Repairs vs. improvements
This is where landlords and their preparers make the most mistakes. A repair is deducted in the year you pay for it. An improvement gets depreciated over multiple years. The distinction changes your tax bill, and the IRS has specific rules about it.
Mixed-use and short-term rentals
If you rent on Airbnb or VRBO and also use the property yourself, the IRS requires you to split expenses between rental and personal use based on the number of days. We calculate that allocation and make sure the Schedule E reflects it correctly.
Depreciation
The IRS requires you to depreciate your rental property over time. If depreciation hasn’t been calculated or was done incorrectly on prior returns, we review it. Getting depreciation right matters because it reduces your taxable income now, and affects your taxes when you eventually sell.
Our process
We use a structured yet flexible framework to evaluate businesses from every angle:
1
Initial call — 15 to 30 minutes
We go through your rental situation: how many properties, what type of rental (long-term, Airbnb, or both), and what records you have. If you’ve filed rental returns before, we may ask to see last year’s return so we can check for issues.
2
Document collection
We tell you exactly what we need: rental income records, expense receipts or summaries, mortgage statements, property tax bills, insurance costs, and any 1099s you received.
3
Return preparation — same day
Once we have your documents, we prepare the return, calculate depreciation, categorize your expenses, and complete your Schedule E along with the rest of your 1040.
4
Review and filing — same day
We go through the completed return with you. If anything needs clarification, we handle it before filing. Once you approve, we e-file right away.
Why landlords in Bradenton and Sarasota choose FileVia Pro
We work with rental returns regularly
Rental property is one of our core services, not an afterthought. We know what the IRS looks at on Schedule E and how to document it properly.
An enrolled agent prepares your return
Victoria holds a federal license from the IRS, which means if a question comes up after filing, she can represent you directly before the IRS.
We catch what software misses
TurboTax doesn’t ask follow-up questions. We do. If something looks unusual, like a repair that might actually be an improvement, we flag it and handle it correctly.
We review prior returns
If you’re coming to us from another preparer or from self-filing, we look at what was done before. If there’s an error that affects your current return, we address it.
Flat fee, agreed upfront
$400 for your rental property return. You know the cost before we start.
In person or remote
Meet us in Bradenton, or work with us by email and phone from anywhere in Florida.
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Personal tax preparation in Bradenton and Sarasota, FL
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What our clients say
Great price
“’m so grateful for the accounting services I receive from Victoria! The expertise is exceptional, and communication is always top-notch—quick, clear, and incredibly professional. I’ve been working with her for over 3 years now, I couldn’t ask for a better partner for my business finances. Highly recommend! Owner of Cat Shalom LLC”
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“FileVia pro was the best company i ever worked with!! I definitely recommend to everyone!! Very informative, flexible hours, and asked many questions!! Thank goodness I found this company 🙏”
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“I received exceptional service from this tax filing service. The process was smooth, efficient, and handled with great attention to detail. I truly appreciate the professionalism and support throughout. Highly recommend!”
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What other preparers get wrong on rental returns
We’ve seen enough landlord returns from other offices and self-filed through software to know where things go sideways. These are the most common problems:
Rental property depreciation never started or skipped. Some landlords never started depreciating their property because nobody told them to. The IRS actually expects you to take depreciation whether you claim it or not, and it affects your cost basis when you sell. If it was missed, we can review your prior returns and address it.
Repairs classified as improvements (or vice versa). A new water heater might be a repair or an improvement depending on the facts. Getting it wrong means you’re either overstating or understating your deduction for the year.
Incomplete expense tracking. Landlords sometimes forget to deduct mileage for trips to the property, property management software subscriptions, or HOA fees. It adds up.
Airbnb income reported incorrectly. Short-term rental income sometimes ends up on the wrong schedule, or the personal-use days aren’t tracked properly, which throws off the whole calculation.
No separation between properties. If you own two or more rentals, each one should be reported separately. Combining them hides the performance of each property and can create problems in an audit.
Rental property taxes: common questions
The big things: all rental income is taxable, and most expenses related to the property are deductible. You’ll also need to start depreciating the building (not the land). We set all of this up on your first rental return and explain what records to keep going forward.
Yes. All rental income is taxable whether it’s a year-long lease or a weekend Airbnb stay. If you also use the property yourself, the IRS requires you to allocate expenses between personal and rental use based on the days. We handle that calculation.
Yes. The IRS expects you to depreciate your rental property whether you claim it or not. If you don’t take the deduction, you still lose the cost basis when you sell. That means you’d pay more in taxes on the sale without having received the annual tax benefit. We make sure depreciation is calculated correctly from the start.
In many cases, yes. There’s an IRS procedure (Form 3115) to catch up on missed depreciation. We can review your prior returns and determine whether a correction makes sense for your situation.
Common deductions include mortgage interest, property taxes, insurance premiums, repairs and maintenance, property management fees, HOA dues, advertising for tenants, travel to the property, and professional fees (including tax preparation). Improvements like a new roof are deductible too, but they get depreciated over time rather than deducted all at once.
A repair keeps the property in its current condition: patching drywall, fixing a leaky faucet, replacing a broken window. An improvement adds value or extends the property’s life: a new roof, new HVAC system, or a kitchen renovation. Repairs are deducted in full the year you pay for them. Improvements are depreciated over several years. The IRS has specific guidelines for this, and we apply them to each expense.
Your tax preparation fee is $400, which includes your individual return and one rental property. Each additional rental property is $100, as each property must be reported separately on Schedule E for accurate IRS reporting.
Request for quote now!
Own rental property? Let’s make sure it’s filed right.
Call us at 941-500-3196 or email [email protected]. We’ll go through your rental situation, tell you what documents to gather, and prepare your return.