How to Generate CPA-Ready Reports in DeductFlow
Tax time doesn't have to be a scramble. When your records have been maintained in DeductFlow throughout the year, generating a complete package for your CPA takes about 15 minutes. This guide walks through every step—from reviewing data completeness to downloading the final your tax return breakdown.
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What Reports DeductFlow Generates
| Report | What It Contains | CPA Uses It For |
|---|---|---|
| Annual Income Summary | Total revenue, gross vs. net payouts, 1099-K reconciliation | IRS Line 1 (Gross receipts) |
| your tax return Breakdown | Expenses mapped to Lines 8, 11, 15, 16, 17, 18, 20a, 22, 27a | Completing your tax return directly |
| Mileage Log | Date, origin, destination, purpose, miles, deduction value | IRS Line 9 (Car and truck) |
| Depreciation Schedule | All assets, basis, class life, method, annual depreciation | Form 4562 / IRS Line 13 |
| 1099-NEC Summary | Contractors paid $600+, TIN, amounts by quarter | Filing Form 1099-NEC by January 31 |
| Per-Property P&L | Income and expenses by property for multi-property owners | Property-level analysis, grouping election |
Step-by-Step: Generating Your Year-End Reports
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1
Complete and Review Expense Categories
Before exporting, every expense transaction must be categorized. In your DeductFlow dashboard:
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- Navigate to Expenses
- Filter by Status: Uncategorized
- Review each flagged transaction and assign to the correct category
- The category you select maps automatically to the correct IRS category
Leaving transactions uncategorized means they'll appear as "Other Expenses" in your report, which requires your CPA to investigate each item—adding time and cost to your tax prep.
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2
Review Your Mileage Log for Completeness
Navigate to Mileage and scan your full-year trip history. Check for:
- Any trips missing a business purpose description
- Trips with no property assigned (especially if you have multiple STRs)
- Gaps in the log during months you know you made property visits
Add any missing trips via the Add Manual Trip button. Note the annual total—3,000 miles at $0.725 generates a $2,175 deduction worth up to $700 in real tax savings.
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3
Verify Depreciation Entries
Navigate to Assets. Confirm that the following are entered:
- The property itself (purchase price, closing date, land/building split)
- Appliances purchased during the year (refrigerator, washer/dryer, HVAC)
- Furniture and furnishings (5-year MACRS property)
- Cost segregation components if a study was performed
Each asset generates a depreciation entry on the Depreciation Schedule report. Missing assets = missed deductions your CPA can't claim without the underlying data.
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4
Check Contractor 1099 Data
Navigate to Contractors. For any contractor paid $600 or more during the year, verify:
- Legal name matches their W-9
- Tax ID number (SSN or EIN) is entered
- Mailing address is current
- Total payments for the year shown correctly
The 1099-NEC deadline is January 31. Flagging incomplete contractor records now prevents a last-minute scramble.
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5
Export the Annual Income Summary
Navigate to Reports > Annual Summary. Select the tax year and click Export. This report includes:
- Gross income by platform (Airbnb, Vrbo, direct bookings)
- Platform fees deducted
- Net income
- Total expenses by category
- Net profit or loss
- 1099-K reconciliation: amounts DeductFlow recorded vs. amounts reported on 1099-K
Your CPA will use this to populate IRS Lines 1 and 6 and to verify income against IRS matching documents.
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6
Download the tax return Breakdown
Navigate to Reports > your tax return. This is your most important tax document. It maps every expense to its IRS category:
- Line 8 — Advertising (listing fees, photography)
- Line 11 — Contract labor (cleaners, property managers)
- Line 15 — Insurance premiums
- Line 16 — Interest (mortgage interest on rental property)
- Line 17 — Legal and professional fees (CPA, attorney)
- Line 18 — Office expenses (software subscriptions including DeductFlow)
- Line 20a — Rent/lease (if you rent the STR rather than own)
- Line 22 — Supplies (cleaning products, guest toiletries)
- Line 27a — Other expenses (anything not covered above)
Download as PDF and share with your CPA. This single document can reduce CPA prep time by 2–4 hours, saving $200–$600 in billable fees.
Pre-Export Checklist
- All expense transactions categorized (zero uncategorized entries)
- Mileage log complete with purposes and property assignments
- Property asset entered with correct purchase price and closing date
- All major purchases ($500+) added as assets with correct class life
- All contractors paid $600+ have complete W-9 information
- Airbnb/Vrbo 1099-K received and amounts reconciled in DeductFlow
- Hours log complete if claiming material participation
- Any home office dimensions entered if claiming home office deduction
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Make Tax Season a 15-Minute Task
When you track everything in DeductFlow throughout the year, year-end reporting is just a few clicks. Start tracking today and hand your CPA a complete package at tax time.
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