Free rental income and expense template

Updated October 2026. General information for US landlords, not tax or legal advice.

Download the free template (.xlsx)  Excel 2010+ · Google Sheets · LibreOffice · no macros

What's in the template

• Log: date, category (dropdown), amount, payee, notes. Each row shows its Schedule E line, and rows missing a date or amount turn red.
• Mileage: trips with the IRS standard mileage rate applied by date (2026: 72.5¢ through June 30, 76¢ from July 1).
• Summary: pick the tax year and get totals for lines 3 and 5–19, total expenses, and net before depreciation.
• Excluded items: mortgage principal, improvements and security deposits are tracked but kept out of your deductions.

How to use it

1. Open the file in Excel, or upload it to Google Drive and choose File → Save as Google Sheets.
2. Delete the 5 example rows on the Log tab.
3. Enter transactions as they happen. Amounts are always positive, and the category decides whether a row is income or an expense.
4. Split each mortgage payment into interest (deductible), principal (excluded) and escrow (taxes and insurance, entered when the lender pays them).
5. At tax time, set the year on the Summary tab and copy the totals to Schedule E, or send them to your preparer.

What it doesn't do

The free template doesn't calculate depreciation (line 18), handle multiple properties, or track rent by unit. For depreciation, use the 27.5-year depreciation calculator. If you have more than one property, the Rental Property Tracker does all of it for up to 10 properties.

Not sure which category an expense belongs in? See the expense categories checklist and the landlord tax deduction list.