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June 6, 2019
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The property manager for my rental property deducts expenses from the rent, do I need the receipts in hand before i can deduct the expenses?

  • June 6, 2019
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The property manager has given me a summary with total for maintenance, etc.  I assume the accounting is accurate.  If i don't have receipts who is responsible for inaccuracies?

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You are ultimately responsible for what goes on your tax return. However, I believe most tax preparers and the IRS accept a property management statement as accurate financial documentation. You can go ahead and deduct those expenses.

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Answer
June 6, 2019

You are ultimately responsible for what goes on your tax return. However, I believe most tax preparers and the IRS accept a property management statement as accurate financial documentation. You can go ahead and deduct those expenses.