Short answer
Year-end review should reconcile rental income, deposits, expenses and asset purchases before tax preparation.
What to do next
Export a property-level ledger, flag unusual items and provide supporting documents to your tax preparer.
Save the current lease, dated messages, receipts and any property-specific evidence together. A useful record shows what happened, when it happened and which document or rule you relied on.
Check the source
Rules may change and the right answer can depend on the home, city, lease and timing. Review the current official material before signing, charging a fee, sending a notice or making a legal decision.
IRS Publication 527 — Residential Rental Property ↗
Put it into your workflow
A repeatable process turns a one-time answer into a reliable rental record. Capture the action in your property file, assign a follow-up date if needed and make sure any tenant communication matches the signed agreement.
Export a property-level ledger, flag unusual items and provide supporting documents to your tax preparer.
General information for U.S. landlords, with a Texas focus. This guide is not legal, tax or accounting advice. Consult a qualified professional for your situation.