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Trusted by 12,000+ self-employed pros

You Build Wealth Through Property. Your Tax Strategy Should Be Just as Strong.

The free bookkeeping tool that helps real estate investors organize ordinary and necessary business expenses for Schedule C and Schedule E.

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Deductions Most RE Investors Miss

Every unclaimed deduction is money left on the table. These re investor expenses are pre-loaded in your template — you just fill in the amounts.

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Mortgage Interest

Schedule E

Loan interest on rental properties (not principal).

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Property Taxes

Schedule E

Real estate taxes on rental properties.

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Repairs & Maintenance

Schedule E

Plumbing, electrical, painting, appliances, landscaping.

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Property Management

Schedule E

Manager fees (8-12%), tenant screening, leasing.

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Insurance

Schedule E

Landlord insurance, umbrella, flood, loss of rent.

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Depreciation

Schedule E

Residential: 27.5 years. Commercial: 39 years.

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Travel to Properties

Schedule E

Mileage to properties, out-of-state travel.

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Professional Services

Schedule E

Tax professional, attorney, title company, appraiser, inspector.

The RE Investor's Guide to Schedule C Deductions

If you earn self-employment income as a re investor, the IRS treats you as a sole proprietor (or single-member LLC) and you report that income on Schedule C (Form 1040), Profit or Loss From Business. Every ordinary and necessary business expense you track lowers your taxable net profit — which directly reduces both your income tax and your 15.3% self-employment tax. Most re investors leave money on the table simply because they never recorded the expense in the first place.

Which Schedule C lines matter most for re investors

Our free re investor template pre-loads the categories below and maps each one to the correct Schedule C line, so you never have to guess where an expense belongs:

  • Mortgage Interest (Schedule E): Loan interest on rental properties (not principal).
  • Property Taxes (Schedule E): Real estate taxes on rental properties.
  • Repairs & Maintenance (Schedule E): Plumbing, electrical, painting, appliances, landscaping.
  • Property Management (Schedule E): Manager fees (8-12%), tenant screening, leasing.
  • Insurance (Schedule E): Landlord insurance, umbrella, flood, loss of rent.
  • Depreciation (Schedule E): Residential: 27.5 years. Commercial: 39 years.

How to fill out your Schedule C, step by step

Start by entering every deposit you received for re investor work as gross receipts (Line 1). Then categorize each business expense using the dropdown in the template's transaction tab — the Schedule C Summary tab totals each line automatically. The difference between your income and expenses is your net profit (Line 31), which flows to your Form 1040 and Schedule SE. Keeping these records current also makes it far easier to calculate quarterly estimated taxes and avoid underpayment penalties.

Record-keeping tips for re investors

The IRS expects you to be able to substantiate every deduction. Keep digital copies of receipts, log business mileage contemporaneously, and keep business and personal spending in separate accounts wherever possible. A few minutes of bookkeeping each week is far less stressful than reconstructing a year of expenses in April.

This guide is educational and does not constitute tax advice. For preparation and IRS representation, our sponsor Arc & Ledger Accounting is a firm of IRS Enrolled Agents.

How It Works

1

Download

Pick your business type. Get a free template. No signup.

2

Categorize

Enter your bank transactions. Pick from the dropdown. ~30 min.

3

Review

Schedule C summary auto-calculates your income, expenses, and tax.

4

File

Hand it to your Enrolled Agent. Or let Arc & Ledger prepare your return from $300.

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Don't Have Excel? No Problem.

Download the file → Open Google Sheets → File → Import → Upload. Done. All formulas, dropdowns, and formatting transfer perfectly.

See full Google Sheets instructions →
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Download Your Free RE Investor Template

Every deduction pre-loaded. Works in Excel or Google Sheets. No signup. No email required.

📥 Download for Excel

For Google Sheets: download the file, then open Google Sheets → File → Import → Upload. Full instructions →

Need help filing?

Arc & Ledger's Enrolled Agents prepare Schedule C returns from $300 — and are authorized to represent you directly before the IRS.

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Most CPAs charge $500-800 for a Schedule C return. Arc & Ledger's Enrolled Agents do it from $300 — and they're authorized to represent you directly before the IRS if anything comes up.

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✓ Schedule C tax preparation from $300 (CPAs charge $500-800)
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✓ Authorized to represent you before the IRS
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Our free template works alongside any filing method — use it to organize your expenses first, then file however works best for you.

Common Questions

What deductions can real estate investors claim?+
Real estate investors may deduct ordinary and necessary business expenses under IRC Section 162 and Section 212. Commonly claimed deductions include mortgage interest, property taxes, repairs and maintenance, property management fees, insurance, depreciation, travel to properties, and professional services. Whether you report on Schedule C or Schedule E depends on the nature of your activity. Your tax situation may vary, so consult a qualified tax professional for personalized guidance.
Do real estate investors use Schedule C or Schedule E?+
Rental income is typically reported on Schedule E (Form 1040). Flipping, wholesaling, and active real estate businesses may use Schedule C. The distinction affects self-employment tax obligations. Our free template is an organizational tool that helps categorize expenses for either form. Consult a qualified tax professional to determine which form applies to your specific situation.
How much tax do self-employed real estate investors pay?+
Tax obligations for real estate investors vary significantly depending on activity type. Rental income on Schedule E is generally not subject to self-employment tax but is subject to income tax. Active real estate businesses on Schedule C may owe self-employment tax (15.3%) in addition to income tax. The self-employment tax applies to net earnings over $400. Consult a qualified tax professional to understand your specific tax obligations.
Do I need to file quarterly estimated taxes as a real estate investor?+
If you expect to owe $1,000 or more in federal tax for the year, the IRS generally requires quarterly estimated tax payments. Deadlines are typically April 15, June 15, September 15, and January 15. Real estate income and large depreciation deductions can make quarterly estimation complex, so tracking expenses year-round is essential.
How does depreciation work for rental property?+
Depreciation allows you to deduct the cost of a rental property over its useful life: 27.5 years for residential property and 39 years for commercial property. Only the building value is depreciable, not the land. Depreciation may significantly reduce taxable income from rental activities. Cost segregation studies may accelerate depreciation on certain components. Consult a qualified tax professional for guidance on your specific situation.
Should I hire an Enrolled Agent or do my own taxes?+
An Enrolled Agent (EA) is a tax professional who has passed a rigorous IRS exam and is authorized to represent taxpayers directly before the IRS. Unlike other preparers, EAs must pass a rigorous exam and complete continuing education annually. For real estate investors with depreciation, 1031 exchanges, and multi-property portfolios, an EA can help ensure compliance and identify all eligible deductions. Arc & Ledger's team of Enrolled Agents specializes in Schedule C businesses.
Is the Schedule C template really free?+
Yes. Every template on ScheduleC.App is completely free to download, with no signup required. The site is sponsored by Arc & Ledger Accounting, a firm of IRS Enrolled Agents, which is why we can offer the templates at no cost.
Do I need accounting software to use the template?+
No. The template is a spreadsheet that opens in Microsoft Excel or imports directly into Google Sheets (File → Import → Upload). All formulas, dropdown categories, and the Schedule C summary work in both.
When is the Schedule C filing deadline?+
Schedule C is filed with your Form 1040, which is generally due April 15. If you expect to owe $1,000 or more, the IRS also requires quarterly estimated tax payments throughout the year, typically due in April, June, September, and January.
What records do I need to keep for my deductions?+
Keep documentation that substantiates each expense — receipts, invoices, bank and card statements, and a contemporaneous mileage log for vehicle use. The IRS expects you to be able to prove that each deduction was an ordinary and necessary business expense under IRC Section 162.
Can someone prepare my Schedule C for me?+
Yes. Our sponsor, Arc & Ledger Accounting, is a firm of IRS Enrolled Agents authorized to prepare returns and represent taxpayers before the IRS. You can send them your completed template and they handle the filing.

Every Day You Wait, You Risk Missing Deductions

Your free RE Investor template has every deduction pre-loaded. No signup. No email. Just download and go.

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