View the taxable amount on Tax Reporting
Go to Accounting › Transactions, click the green Actions button, and select Tax Reporting.
Find the owner or vendor. The Amount column is their total for the tax year.
Click the pencil icon next to their name. The Modify Tax Record window shows how the total was built.
Field | Example |
Taxable Income Amount | $1,400.00 |
Prepayment Amount | $0.00 |
Adjustment Amount | $5,000.00 |
Taxable Amount | $6,400.00 |
Field | What it means |
Taxable Income Amount | Income from taxable chart of accounts, for the owner’s share of each portfolio. |
Prepayment Amount | The year’s net change in prepaid rent, when Include Prepayments is on. |
Adjustment Amount | Tax adjustments on the owner or vendor contact, dated in the tax year. |
Taxable Amount | The total that prints on the 1099. |
Need it for everyone at once? Click Actions › Print Report or Export to Excel on the Tax Reporting page.
Break down taxable income on a Cash Flow Annual report
The Cash Flow Annual report shows each income account month by month, so you can see exactly where the Taxable Income Amount comes from.
Go to Reports and open Cash Flow Annual, or Cash Flow Annual (per property) for a property-level view.
Set Date Range to the tax year (for example, Last Year).
In Ledger, choose the owner’s portfolio.
Click Add Filter › Cash / Accrual and choose Cash.
Set Include Prepayments to match how you compiled your 1099s (usually Yes).
Click Build Report.
Add up the income lines for accounts marked taxable. That total, times the owner’s ownership percentage, should match the Taxable Income Amount.
Prepayments never change the Income section of this report. With Include Prepayments set to Yes, they show as a separate prepaid line (for example, 2300: Prepaid Rent) under Adjustments.
Check which chart of accounts are taxable
Only accounts marked taxable count toward the 1099.
Go to Settings › Chart of Accounts.
Filter by Account Type and select Income and Other Income. Click Update.
Look at the Details column. If Taxable is green, that account is included on 1099s.
You can also click any account to see Is Taxable (ie included on 1099) listed as Yes or No.
An income line on your Cash Flow report that isn’t marked taxable won’t count toward the 1099. If the numbers don’t match, see What to Do if My Taxable Amount Doesn’t Match My End-of-Year Reports.
Frequently Asked Questions
Why is the amount different from total rent on the Cash Flow report?
Only taxable accounts count, and only the owner’s share of each portfolio. Tax adjustments and prepayments are added separately.
I changed something. Why didn’t the total update?
Recompile from Actions › Recompile with Update Amounts ONLY or Update ALL Information.
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