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 Schedule C breakdown.
No credit card required
What Reports DeductFlow Generates
| Report | What It Contains | CPA Uses It For |
|---|---|---|
| Annual Income Summary | Total revenue, gross vs. net payouts, 1099-K reconciliation | Schedule C Line 1 (Gross receipts) |
| Schedule C Breakdown | Expenses mapped to Lines 8, 11, 15, 16, 17, 18, 20a, 22, 27a | Completing Schedule C directly |
| Mileage Log | Date, origin, destination, purpose, miles, deduction value | Schedule C Line 9 (Car and truck) |
| Depreciation Schedule | All assets, basis, class life, method, annual depreciation | Form 4562 / Schedule C 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:
- 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 Schedule C line
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 Schedule C Lines 1 and 6 and to verify income against IRS matching documents.
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6
Download the Schedule C Breakdown
Navigate to Reports > Schedule C. This is your most important tax document. It maps every expense to its Schedule C line:
- 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
No credit card required
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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