Landlord CPA Packet Checklist for 2026
Quick answer: You get a complete CPA packet for property management by assembling it from your own books, not by buying a template. Use this landlord CPA packet checklist to export a P&L by property and LLC, a rent roll, a deposit schedule, a mortgage split, a CapEx vs repairs list, and a 1099 vendor list, then send one dated packet per entity to your CPA.
Every January, landlords search for a CPA packet for property management hoping someone sells a finished one. Templates and spreadsheet packs can help you organize, but the contents have to come from your records. If your books are reasonably clean, assembling the packet takes an afternoon, not a month.
This guide is general bookkeeping information, not tax or legal advice. Your CPA decides what they need, how items are treated, and which forms apply to you.
This page is for self-managing owners and landlords who manage their own rentals. If you run several LLCs and want the deeper per-entity workflow (fourth-quarter timing, balance sheets, fixed assets, owner draws), read the year-end CPA packet guide for landlords with multiple LLCs.
What a complete landlord CPA packet actually is
A complete packet answers the questions your CPA would otherwise email you about in March. What came in, per property? What went out, and was it a repair or an improvement? What do you owe tenants in deposits? How much of each mortgage payment was interest? Who did you pay that may need a 1099? Which entity owns what?
Property management companies produce a different packet: trust account reconciliations, management fee income, and owner statements. If you hire a manager, ask for their year-end owner statement and include it, but your packet still needs your own books around it.
Incomplete shoebox vs complete landlord CPA packet
| Topic | Shoebox handoff | Complete landlord CPA packet |
|---|---|---|
| Income | Bank statements. The CPA hunts for rent. | P&L by property and LLC, tied to the bank. |
| Rent roll | Missing. | Unit, tenant, rent, paid, and owed at year-end. |
| Security deposits | Often counted as income. | Schedule of deposits held, as liabilities. |
| Mortgages | Full payment recorded as an expense. | Interest, principal, and escrow split, with Form 1098 attached. |
| Repairs vs improvements | One pile of receipts. | Sorted list with invoices, plus a fixed-asset list. |
| Contractors | Unknown. | Vendor list with W-9s and totals. |
| Entities | Mixed together. | One dated packet per entity. |
| CPA time | High, with many follow-ups. | Lower, with fewer questions. |
How to build your landlord CPA packet in 7 steps
- Agree the tax year, method, and entity list with your CPA. Confirm the year you are closing, whether your books are cash or accrual, and which LLCs or personal holdings each need a packet. This prevents rework later.
- Export a P&L by LLC and by property, reconciled to the bank. Reconcile every bank and card account through December 31 first. Then export a P&L per entity with a property-level breakdown. Unreconciled reports are the most common reason packets come back.
- Pull the rent roll and the deposit-held schedule. List each unit, tenant, monthly rent, rent received for the year, and any balance owed at year-end. Separately, list security deposits held by property. Deposits you may return are liabilities, not income. Ask your CPA how to treat any you kept.
- Split each mortgage into interest, principal, and escrow. Only part of a mortgage payment is typically deductible. Break out interest, principal, and escrowed taxes and insurance, and attach Form 1098 from each lender when it arrives.
- Sort CapEx vs repairs, with invoices. Routine fixes usually go on the repairs line. Roofs, HVAC replacements, additions, and similar improvements are usually capitalized and depreciated. Attach invoices and keep a fixed-asset list with date placed in service and cost. Your CPA makes the final call.
- Build the 1099-NEC vendor list and flag K-1 needs. List every contractor you paid, total paid, payment method, and whether you have a W-9. Filing thresholds and rules change, so confirm the current IRS threshold with your CPA. Do not guess a dollar cutoff. If an LLC is taxed as a partnership, flag that it needs a partnership return and K-1s.
- Assemble a cover note and send one dated packet per entity. Write a short note: entity, owners, properties, method, anything unusual (a new purchase, a sale, a refinance, or a vacancy), and open questions. Name files consistently, date them, and send each entity's packet separately.
Repairs vs capital improvements at a glance
The table above covers the packet. For step 5, a simple rule of thumb your CPA can confirm:
- Usually a repair: fixing a leak, patching drywall, replacing a broken window pane, servicing a furnace, repainting between tenants.
- Usually a capital improvement: new roof, full HVAC replacement, kitchen remodel, adding a bathroom, new flooring throughout.
When in doubt, put it on the ask-CPA list with the invoice attached. Guessing wrong in either direction costs money.
Schedule E vs K-1: which packet path you are on
Personally owned or single-member LLC disregarded for tax. Your CPA typically reports each property on Schedule E of your personal return. They want income and expenses per property mapped to Schedule E lines, the mortgage split, the CapEx list for depreciation, and the rent roll.
Multi-member LLC taxed as a partnership. The LLC usually files its own return and issues K-1s to members. Add a balance sheet, member capital accounts, contributions, and distributions per member to the packet.
Both. Many landlords have one of each. Build separate packets. A clean chart of accounts that mirrors Schedule E lines, and is the same across every LLC, makes this much faster. Copy the sample in rental property chart of accounts. For setting up separate books, see bookkeeping for multiple rental LLCs.
The complete landlord CPA packet checklist
Complete one copy per entity.
Setup
- Tax year, cash or accrual, and entity list confirmed with your CPA
- Ownership map: entity, members and percentages, properties on title
Books and reports
- All bank and card accounts reconciled through December 31
- P&L by entity with a property-level breakdown
- Balance sheet per entity (required for partnerships, helpful for all)
- General ledger export, if your CPA asks
Rent and deposits
- Rent roll: unit, tenant, rent, received for the year, owed at year-end
- Security deposits held by property, shown as liabilities
- Notes on deposits kept or applied to damages
Debt
- Mortgage split: interest, principal, and escrow, per loan
- Form 1098 from each lender
- Refinance or new loan closing statements
Property and assets
- Repairs list with invoices
- Capital improvements list with invoices and in-service dates
- Fixed-asset list, including purchases and sales this year
- Closing statements for any property bought or sold
Vendors and owners
- Contractor list with totals, payment method, and W-9 status
- Current 1099-NEC threshold confirmed with your CPA
- Member contributions and distributions (partnership LLCs)
- K-1 flag for any partnership LLC
Other
- Property tax and insurance statements
- Mileage log, if you track it
- Property manager year-end owner statement, if you use one
- Cover note with open questions, dated
Common mistakes
Counting deposits as income. It overstates income and hides what you owe tenants.
Expensing the full mortgage payment. Principal is not an expense, and escrow needs its own breakdown.
One packet for every entity. Your CPA has to untangle it, and you pay for the time.
Sending reports before reconciling. The numbers change, and the packet goes stale.
Questions people ask
Where can I get a complete CPA packet for property management in 2026?
Build it from your own books. Export a P&L by property and LLC, rent roll, deposit schedule, mortgage split, CapEx list, and vendor list, then send one dated packet per entity. Templates help organize, but your records supply the contents.
What should a landlord CPA packet include?
P&L by property and entity, rent roll, security deposits held, mortgage interest and principal split with 1098s, repairs and improvements with invoices, a contractor list with W-9s, and a cover note with open questions.
Are security deposits income for landlords?
Usually not while you may have to return them. Record deposits held as liabilities. Deposits you keep, for example for damage, may be treated differently. Ask your CPA how to report them.
What is the 1099-NEC threshold for landlords?
Thresholds and rules can change, so confirm the current IRS threshold with your CPA. Keep a full contractor list with totals and W-9s so your CPA can decide which forms you need.
Do I need a separate CPA packet for each LLC?
Yes, in most cases. Each LLC has its own books and may file differently, Schedule E or a partnership return with K-1s. One dated packet per entity keeps the handoff clean.
Export your CPA packet without the spreadsheet scramble
Stateful keeps separate double-entry books per LLC in one workspace, tracks rent by unit, holds deposits as liabilities, and includes a tenant portal and a landlord app. Reports export by LLC and property. Android now, iPhone coming soon. Pricing is $15 a month or $144 a year, with no unit limits, and a 30-day free trial.
Start your 30-day free trial. The setup steps for each LLC are in getting started with Stateful.