What Records Should I Keep for Tax Purposes?
Good recordkeeping makes tax season easier and helps your CPA maximize your deductions. Here's what to keep and where to find it.
What MoveZen Provides
You have access to everything you need from MoveZen through your Owner Portal:
Monthly Owner Statements break down each month's income and expenses in detail. If you ever need to see what made up the numbers on your annual report, your monthly statements have the backup.
Monthly Owner Packets include copies of invoices and vendor payment confirmations for any bills MoveZen paid on your behalf—so everything is in one place.
Annual Cash Flow Report provides a full-year overview of all income collected and expenses paid through MoveZen. This is typically what you'll hand to your CPA alongside your 1099.
All of these documents are available in your Owner Portal anytime under the Statements Tab, and Documents Tab (Cash flow and 1099 shared by January 31st for previous tax year)
What You Should Keep on Your Own
MoveZen only reports what we collect and pay on your behalf. If you pay for anything directly, keep those records and provide them to your CPA so they have the full picture. This includes property taxes, insurance premiums, mortgage interest, utilities you pay directly, and any repairs or improvements you handled yourself.
Your CPA can only work with what you give them—don't leave deductions on the table.
How Long to Keep Records
The IRS generally recommends keeping tax records for at least three years from the date you filed. For rental property, it's smart to keep records longer—especially documentation related to capital improvements, which affect your cost basis when you sell. Many CPAs recommend keeping property records for at least seven years, or for as long as you own the property plus seven years after you sell.
Questions?
Submit a Help Ticket Phone: (910) 447-9495 Email: mzaccounts@movezen360.com