Guide
Schedule E Spreadsheet vs Software for Landlords (2026), With a Free Column Template
Track rentals for Schedule E in a spreadsheet or software? A free column layout matched to IRS lines, plus what rental bookkeeping apps cost. Checked Oct 2026.
By Landlord Software Directory · Updated on · Pricing checked
On this page
Landlords report rental income and expenses on Schedule E (Form 1040). With one to three units, one rental bank account and a handful of transactions a month, a well-organized spreadsheet is enough. As you add units, accounts and receipts, rental bookkeeping software that imports transactions and prints a Schedule E report starts to pay for itself in saved time. Baselane Core and REI Hub's free plan include Schedule E reports at $0.
Best for: DIY landlords with 1–10 units deciding whether to keep a spreadsheet or move their Schedule E records into software.
This guide gives you a free spreadsheet layout mapped to the Schedule E expense lines, then compares software that produces Schedule E reports. Line names come from the 2025 Schedule E form and its instructions. Software prices come from vendor pages, checked October 28, 2026.
We haven't tested these products hands-on. This isn't tax advice; ask a tax professional about your situation.
Free spreadsheet template: columns that match Schedule E
Make one row per transaction and one tab per tax year. Use these columns:
| Column | What goes in it |
|---|---|
| Date | Transaction date |
| Property | One code per property (Schedule E lists properties as A, B, C) |
| Payee / payer | Who you paid or who paid you |
| Description | What it was for |
| Amount | Positive for income, negative for expenses |
| Schedule E line | One of the lines below |
| Receipt link | File path or photo link |
| Paid by | Bank account or card, for reconciliation |
Schedule E lines to use in the "Schedule E line" column:
| Line | Name on the form |
|---|---|
| 3 | Rents received |
| 5 | Advertising |
| 6 | Auto and travel |
| 7 | Cleaning and maintenance |
| 8 | Commissions |
| 9 | Insurance |
| 10 | Legal and other professional fees |
| 11 | Management fees |
| 12 | Mortgage interest paid to banks, etc. |
| 13 | Other interest |
| 14 | Repairs |
| 15 | Supplies |
| 16 | Taxes |
| 17 | Utilities |
| 18 | Depreciation expense or depletion |
| 19 | Other (list) |
Then add a summary tab. A pivot table of Amount by Property (columns) and Schedule E line (rows) gives you the per-property totals the form asks for. Line 20 is the total of lines 5 through 19.
Points from the IRS instructions to build into your sheet:
- Repairs (line 14) keep a property in ordinarily efficient operating condition, such as fixing a broken lock or painting a room. Improvements, such as replacing an entire HVAC system, generally must be capitalized and depreciated (line 18), not deducted in full in the year you pay them. Add a "Repair or improvement?" column.
- You can't deduct the value of your own labor.
- For 2025, the standard mileage rate for rental activities is 70 cents a mile (line 6), and claiming auto expenses requires Form 4562. Keep a mileage tab.
- Schedule E also asks for fair rental days and personal-use days per property, and whether you made payments that require Form 1099.
When a spreadsheet is enough, and when it isn't
A spreadsheet works when:
- you have 1–3 units and one bank account for rentals
- you have a handful of transactions a month
- you're comfortable reconciling by hand
Software helps when:
- you'd rather import bank transactions than type them
- you're tracking several properties or accounts
- you want receipts attached automatically
- your preparer wants a report instead of a spreadsheet
The software below imports transactions and produces Schedule E reports. Depreciation tracking is only listed for some of them.
Software that produces Schedule E reports
| Tool | Cheapest plan with Schedule E reports (as listed by the vendor) | Notes |
|---|---|---|
| Baselane | Core, free | Banking through Thread Bank; rent collection included |
| Stessa | Manage, $12/mo billed annually ($15 monthly) | Free Essentials plan has bookkeeping but not Schedule E reports |
| REI Hub | Free plan with Schedule E (manual entry, no automatic import); Professional $9/mo billed annually ($15 monthly), up to 3 units | Real-estate chart of accounts, depreciation and fixed-asset tracking; owned by TurboTenant |
| Rentastic | Core, $5/mo billed annually ($60/yr; $7 monthly), 2 properties | Schedule E and C reports, mileage tracking; Unlimited is $238/yr |
| Landlord Studio | Pro, from $15/mo | Free Go plan for up to 3 units doesn't include Schedule E |
| Quicken Classic Business & Personal | $10.99/mo billed annually (40%-off first-year offer; list $12.49) | Desktop software for Windows and Mac; business and personal finances in one file |
| TurboTenant | Pro, $199/yr (1–10 units) | Accounting suite with Schedule E and Form 8825, alongside rent and screening |
Baselane is a financial technology company and is not an FDIC-insured bank.
Sources: each vendor's pricing page; see also Baselane vs Stessa and Stessa vs QuickBooks.
Unverified: Quicken's page sells Windows and Mac versions, but one of its FAQ answers about rental budgets ends with "* Windows only." If you're on a Mac, confirm which rental features you'd get.
Cost per year at 3 units
| Option | Per year |
|---|---|
| Spreadsheet | $0 (your time) |
| Baselane Core | $0 |
| Rentastic Core | $60 (covers 2 properties; 3 need Unlimited at $238) |
| REI Hub (up to 3 units, annual) | $108 ($9 × 12) |
| Quicken Classic Business & Personal (first year) | $131.88 ($10.99 × 12) |
| Stessa Manage (annual) | $144 ($12 × 12) |
| Landlord Studio Pro (monthly) | $180 ($15 × 12) |
| TurboTenant Pro (1–10 units) | $199 |
What software adds over a spreadsheet
Based on the vendors' own feature lists, the main time-savers are:
- Bank and card imports. Stessa, Baselane, Landlord Studio Pro and REI Hub's paid plans pull in transactions so you categorize them instead of typing them. REI Hub's free plan is manual entry.
- Receipt capture. Stessa's free plan includes 5 receipt scans, and Baselane Smart adds automatic receipt matching.
- Depreciation. REI Hub lists depreciation and fixed-asset tracking, and Baselane Smart adds balance sheets with automatic depreciation. A spreadsheet needs a separate depreciation schedule, often kept by your preparer.
- Rent in the same ledger. Baselane, Stessa and TurboTenant Pro collect rent and record it, so line 3 fills itself.
- A report your preparer can use. Every tool in the table lists a Schedule E report on the plan shown.
None of these tools file your return. They produce totals that you or your preparer enter on Schedule E.
A practical middle path
- Open a separate bank account for your rentals. That's the single biggest time-saver whichever option you choose.
- Start with the spreadsheet above, or a free plan with Schedule E (Baselane Core), for one tax season.
- If reconciling takes more than an hour or two a month, move to software that imports transactions. Before you commit, check that the tool can export your data.
How we checked
On October 28, 2026, we read IRS Schedule E (2025) and its instructions, and the pricing pages of Baselane, Stessa, REI Hub, Rentastic, Landlord Studio, Quicken and TurboTenant. Yearly costs are our arithmetic from the published rates. We haven't used these tools with our own rentals, and no vendor paid for placement. Tax rules change each year, so check the current instructions before you file. This isn't tax advice.
FAQ
Can I use a spreadsheet for Schedule E?
Yes. The IRS doesn't require software. A sheet with one row per transaction and a column for the Schedule E line gives you the per-property totals the form asks for.
What's the cheapest software with a Schedule E report?
Baselane Core and REI Hub's free plan both list Schedule E reports at $0. REI Hub's free plan is manual entry only. Baselane works best if your rent runs through its accounts.
Does Stessa's free plan include Schedule E?
No. Stessa's Schedule E reports are on Manage, $12 a month billed annually or $15 monthly.
Is a new roof a repair or an improvement?
Replacing a whole roof is often treated as an improvement, but ask your preparer. The IRS instructions say improvements generally must be capitalized and depreciated, while repairs that keep a property in efficient operating condition go on line 14.
What's the 2025 mileage rate for rental property?
70 cents a mile for rental activities, per the IRS instructions. Claiming auto expenses also requires Form 4562.
Related
Software mentioned
Checked
Free banking, bookkeeping and rent collection for rental investors, with an AI-automation paid tier.
Checked
Free rental accounting, banking and rent collection for investors, with paid tiers for leases and advanced reports.
Checked
Rental-investor bookkeeping with bank import, depreciation tracking and Schedule E reports, priced by unit tier.
Checked
Low-cost bookkeeping app for landlords with bank sync, receipt scanning, P&L and Schedule E reports, and a deal analyzer.
Checked
Landlord app centered on rental accounting and tax reports, plus listings, screening and rent collection; free up to 3 units.
Desktop personal and business finance software with built-in rental property tracking and Schedule E reports.
Checked
Free-first landlord app for listings, screening, e-signed leases and online rent, with low-cost paid tiers for DIY owners.