Should I keep track of expenses I have spent on the property?

Should I keep track of expenses I have spent on the property?

Absolutely. Many of the expenses you incur (i.e. supplies, property management fees, travel, etc.) can be tax deductible and lower your taxable income. It is highly encouraged to track all expenses related to the property to optimize your overall return. You will receive an itemized document from us every month stating expenses deducted from your earnings, your income, and any other information that is needed. You should keep these statements on file for tax reporting purposes.
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