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Tax season

Hand your CPA a finished year.

Cost basis, depreciation estimate and every categorized transaction stay against the property all year, so year end is an export, not a project.

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The Tax & basis step for a property in Keystone IQ: depreciation this year of $8,203 marked as an estimate, a cost basis of $289,200 split into building $225,576 (78%) and land $63,624 (22%), a placed-in-service date of June 2023 with about 24.5 of 27.5 years remaining, and a note reading 'Where this goes: Schedule E, line 18'.
residential recovery period
27.5 yrs
transient short-term rental
39 yrs
depreciation on Schedule E
Line 18
Schedule E, C or Form 8825
3 forms

The basis is a property detail

Enter the purchase price, the closing costs and the land split once, and the yearly schedule follows from there.

  • Purchase price, closing costs and land split live on the property
  • Straight-line estimate over 27.5 years, or 39 for a transient rental
  • Each capital improvement gets its own schedule
  • Land is never depreciated

See where every figure lands

Each property gets an on-screen preview, grouped the way the form groups it, with every row tagged with the line it maps to.

  • Every income and expense row carries its IRS line number
  • Debt service held apart, so the operating picture stays honest
  • Short-term categories (linens, amenities, channel manager) carried through
  • Included on Starter, per property
A per-property tax preview in Keystone IQ for “Crestline Cabin — Big Bear”, badged LLC and Sch E, showing net operating income of $9,568.36 and Cash Flow Positive. Income rows are tagged Ln 3 (Rents Received $13,640.55, Other Income / Refunds $3,330.00, Total Income $16,970.55); operating expenses run Ln 9 through Ln 19 including short-term-rental costs like linens, guest amenities and a channel manager, totalling $7,402.19. Below them a Debt Service (financing) block explains that mortgage interest is reported separately on its own line, and lists Ln 12 Mortgage Interest $10,040.99 and Mortgage Principal $2,034.69.

One package per property, per year

The CPA package is generated on demand: a PDF laid out by form section, and an Excel workbook beside it.

  • PDF laid out by form section, one per property and year
  • Excel workbook: summary, full transaction detail, audit trail
  • Generated from live data, nothing to reconcile first
  • A Pro feature
Page one of a generated Keystone IQ Annual Financial Report for Hickory Street Duplex, 2026, laid out as Schedule E Part I: income on line 3 totalling $36,355.65; expenses on lines 9 to 18 covering insurance, management fees on line 11, mortgage interest, repairs and property tax; then a line-18 depreciation expense marked as an estimate at $8,202.76, total expenses of $10,917.71, net rental income of $25,437.94, and the report's own footer stating it is for informational purposes only and not a tax, accounting, or legal advisory service.

Every number traces back

The workbook's third sheet is a read-only snapshot of what was written or changed, when, and where it arrived from.

  • Timestamp, action, property, vendor and amount, row by row
  • Bank feed, a document the AI read, or someone typing
  • Read-only: a record, not another thing to maintain
The Audit Trail sheet of a generated Keystone IQ workbook, headed 'Audit Trail — Hickory Street Duplex — 2026', a table with timestamp, action, entity, vendor, amount, description, changed fields, source and notes columns, showing write and update entries for a single property across 2026.

What you get

Depreciation & cost-basis estimates

per property, updated each year

Capital improvements depreciated

each on its own schedule

Tax-form preview per property

every row tagged with its line

Short-term expense categories

linens, amenities, channel mgr

Debt service held separate

operating picture stays honest

CPA package exportPro

PDF and Excel, per property and year

Full transaction detailPro

every row behind every total

Audit trail sheetPro

what changed, when, from where

AI year-end narrativePro

a written read on your year

AI scans closing statementsPro

purchase details, ready to confirm

Frequently asked questions

Does Keystone IQ file my taxes?

No. It assembles and shows your numbers, and hands them over in a form your accountant can work from. Filing, and every judgement call that goes into it, stays with you and your tax advisor.

Is the depreciation figure something I can rely on?

Treat it as an estimate to discuss, not a filing figure. It is a straight-line calculation from the purchase details you entered, and it is labelled as an estimate everywhere it appears: on screen and in the exported package. Your tax advisor should confirm the basis, the land split and the recovery period for your situation.

Which tax form does it use?

That follows the property. An entity you have marked as an LLC previews against Form 8825; a short-stay rental with substantial services previews against Schedule C; everything else previews against Schedule E. You can see which one a property is using on its preview.

Where does the depreciation estimate land on each form?

On Schedule E it lands on line 18, on Form 8825 on line 13, and on Schedule C on line 13, each labelled as an estimate on the line itself, so nobody reading the package mistakes it for a filed figure. The estimate is computed per property from your purchase details rather than being a ledger category you have to remember to enter.

What is actually in the export?

A PDF laid out by form section, and an Excel workbook with three sheets: a summary, every underlying transaction, and a read-only audit trail. It is the same set of numbers your dashboard has shown all year, arranged for someone who has never seen your portfolio. That's the difference between sending your accountant a year of work and sending them a year of questions. The audit-trail sheet exists for the question that always comes back in March: where did this number come from.

What is included on Starter, and what needs Pro?

The depreciation and cost-basis estimates and the on-screen tax-form preview are included on Starter, per property. The CPA package export (the PDF, the Excel workbook and its audit-trail sheet), the AI year-end narrative, and the closing-statement scan are Pro features.

How far back can I export?

Any year you have data for. The package is generated on demand from your live ledger rather than stored, so a year you correct in March exports with the correction in it.

Keep exploring

Entities & LLCs

Separate books per LLC

Reports & Net Worth

Track income & net worth

AI Document Extraction

Paperwork, read for you

Stop rebuilding the year every March.

Keep the basis, the depreciation estimate and every categorized transaction against the property all year, and export the whole thing when your accountant asks.

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For informational purposes only. Keystone IQ is a software tool for record-keeping and portfolio analytics, not a tax, accounting, or legal advisory service. Consult a qualified tax advisor before relying on any figure for a filing or financial decision.