When setting up your Schedule E report for tax preparation, you may notice a couple of optional settings.
Here’s what each one means and when you might want to use them.
Include prorated portfolio transactions not assigned to a property
When this option is enabled, portfolio-level transactions that are not assigned to a specific property will still be included in the Schedule E report.
These transactions will be evenly prorated across all properties in your portfolio.
Example:
If you record an expense that applies to your entire portfolio (such as software subscriptions or general administrative costs) and it is not assigned to a specific property, the system will automatically distribute that expense evenly across all properties in the report.
💡 Tip: This option is useful if you track some expenses at the portfolio level instead of per property.
Include mileage deduction by property in Line 6 Auto & Travel
When enabled, the Schedule E report will include mileage entries logged under the Mileage tab for trips associated with a specific property.
These mileage deductions will appear under Line 6: Auto & Travel in the report.
Important notes:
Only mileage linked to a property will be included.
Mileage entries not associated with a property will not appear in the Schedule E report.
💡 Tip: Make sure to assign your mileage entries to the correct property so they are included in your tax report.