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Free Google Sheets template

Free rental property spreadsheet, with Schedule E built in

For landlords with 1 to 10 rentals. Log rent and expenses by property. The sheet adds them up for each line of IRS Schedule E, so tax time takes minutes, not a weekend.

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Rental Property Spreadsheet · Schedule E
LineCategoryOak St #2Elm Ave
3Rents received$1,650.00$1,425.00
9Insurance–$112.00
12Mortgage interest$731.55–
14Repairs$86.42–
17Utilities–$64.18
20Total expenses$817.97$176.18
21Income or (loss)$832.03$1,248.82
Start HereTransactionsSchedule EPropertiesCategories

What's inside the template

Five tabs. You type into the yellow cells; everything else is a formula.

Transactions

One row per rent payment or bill. Pick the property and category from dropdowns.

Schedule E

Totals for lines 3 to 21, side by side for up to three properties, for any tax year.

Properties

Your list of rentals. Add a new one and it shows up in every dropdown.

Categories

Each category maps to one Schedule E line, plus "Mortgage principal", "Security deposit" and "Owner transfer" for money that isn't income or a deduction.

A "Start Here" tab explains each step. The template comes with sample rows so you can see how it works; delete them when you start.

How to track rental income and expenses in Google Sheets

Five steps. Most landlords with a few units spend about 15 minutes a month on this.

  1. List your rentals

    On the Properties tab, add each rental. The Schedule E tab summarizes the first three, like one page of the IRS form.

  2. Add transactions

    On the Transactions tab, add one row per payment or charge. Income is positive. Expenses are negative, the same way your bank shows them.

  3. Pick a property and a category

    Each category matches one line on Schedule E, so there's nothing to look up later.

  4. Split mortgage payments

    Add the interest part and the principal part as two rows. Only the interest is deductible.

  5. Read the Schedule E tab

    Set the tax year. Totals for each property update on their own. A counter shows any rows still missing a category.

Schedule E lines the spreadsheet covers

Schedule E (Form 1040), Part I, is where you report rental income and expenses. These are the lines the template totals for you.

LineCategoryCommon examples
3Rents receivedMonthly rent, late fees, pet rent
4Royalties receivedRare for landlords
5AdvertisingZillow listing, yard signs
6Auto and travelMileage to the property
7Cleaning and maintenanceTurnover cleaning, lawn care, pest control
8CommissionsLeasing agent fees
9InsuranceLandlord policy, umbrella share
10Legal and other professional feesTax prep, eviction attorney
11Management feesProperty manager's monthly cut
12Mortgage interest paid to banksInterest part of the mortgage payment
13Other interestInterest on a HELOC used for the rental
14RepairsPlumber, broken window, appliance fix
15SuppliesSmoke detectors, light bulbs, locks
16TaxesProperty tax
17UtilitiesWater, trash, gas you pay for tenants
18Depreciation expense or depletionThe amount from your tax software or CPA
19OtherHOA dues, bank fees, software
20Total expensesLines 5 to 19, added up for you
21Income or (loss)Line 3 plus line 4, minus line 20

More detail in our Schedule E categories guide. Examples are common cases, not tax advice. Some costs, like a new roof, are improvements that get depreciated instead of deducted as repairs. Ask your tax professional when unsure.

How to record a mortgage payment

A mortgage payment mixes interest, principal, and sometimes escrow for taxes and insurance. Only some of it is deductible. Interest goes on line 12. Principal is not deductible. Escrowed property tax and insurance go on lines 16 and 9 when your lender pays them.

In the template, enter one payment as two or more rows with the same date. Your monthly lender statement or year-end Form 1098 shows the split.

DescriptionCategoryAmount
Mortgage, interest partMortgage interest paid to banks($731.55)
Mortgage, principal partMortgage principal($718.45)

When a spreadsheet stops being enough

The free template works well if you don't mind typing in each transaction. If you'd rather not, that's what we're building.

Free template

  • You type every transaction
  • You pick each category
  • Schedule E totals by property
  • Free forever

RentalTabs add-on (coming early 2027)

  • Bank and card transactions arrive every day
  • Categories are suggested for you
  • Mortgage payments split into interest and principal
  • The same Schedule E report, in your own sheet

See how RentalTabs works →

Questions

Is the rental property spreadsheet really free?

Yes. You make your own copy in Google Sheets and keep it. There is no trial and no payment.

Does it work in Excel?

It is built for Google Sheets. You can download it as an Excel file from Google Sheets, and most formulas will still work, but the dropdowns may need to be set up again.

How many properties can I track?

You can log transactions for up to 49 properties. The Schedule E tab summarizes three at a time, the same as one page of the IRS form. Make a copy of that tab for properties four to six.

How do I record a mortgage payment?

Add two rows: the interest part under Mortgage interest paid to banks (line 12), and the principal part under Mortgage principal. Principal is not deductible. Your lender statement or Form 1098 shows the split.

Does the template calculate depreciation?

No. Depreciation has its own rules, so the template has a line 18 category where you can enter the amount your tax professional or tax software gives you.

Is this tax advice?

No. The spreadsheet helps you organize your records. Please check your return with a tax professional.