Top 10 Best Real Estate Management Accounting Software of 2026

The excess basis is the amount of any additional consideration given by the taxpayer in the exchange, for example, additional cash, liabilities, non-like-kind property, or other boot paid for the new property. For qualified property other than listed property, enter the special depreciation allowance on Form 4562, Part II, line 14. For qualified property that is listed property, enter the special depreciation allowance on Form 4562, Part V, line 25. You can elect to recover all or part of Why Real Estate Bookkeeping is Critical for Your Business the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. You can elect the section 179 deduction instead of recovering the cost by taking depreciation deductions. Several years ago, Nia paid $160,000 to have a home built on a lot that cost $25,000.

Property Management Guide

• To determine the midpoint of a quarter for a short tax year of other than 4 or 8 full calendar months, complete the following steps.
• The market for accounting and property management solutions is diverse.
• During the year, you made substantial improvements to the land on which your rubber plant is located.
• This listicle cuts through the clutter to deliver the most essential and powerful commercial real estate software solutions.
• Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction.
• Learn practical job-ready skills from our team of experienced instructor-practitioners while networking with industry professionals and those looking to break into investment banking.

The adjusted basis of each machine is $5,760 (the adjusted depreciable basis of $7,200 removed from the account less the $1,440 depreciation allowed or allowable in 2024). As a result, the loss recognized in 2024 for each machine is $760 ($5,760 − $5,000). The determination of this August 1 date is explained in the example illustrating the half-year convention under Using the Applicable Convention in a Short Tax Year, earlier. Tara is allowed 5 months of depreciation for the short tax year that consists of https://www.austindailyherald.com/sponsored-content/why-real-estate-bookkeeping-is-critical-for-your-business-9247e950 10 months.

Access your tax information with an IRS account.

Custom subscription pricing based on AUM, users, and modules; typically starts at $10,000+ annually, quote required. Starts at $0/month for up to 3 units (Starter), $59/month for up to 10 units (Growth), $99+/month for larger portfolios (Pro/Premium); additional fees for premium features. Custom quote-based pricing, typically $1.25-$2.50 per unit per month plus implementation fees.

Recovery Periods Under GDS

It integrates seamlessly with leasing, maintenance, and resident portals to provide a unified view of property finances. Ideal for scaling operations, it supports bank reconciliations, budgeting, and tax compliance specific to real estate rentals. MRI Software is a comprehensive enterprise platform specializing in real estate management, with robust accounting modules tailored for property owners, investors, and managers. It offers full-cycle accounting including general ledger, AP/AR, bank reconciliation, financial reporting, and real estate-specific functions like rent collection, escrow management, and lease accounting. Designed for scalability, it supports multi-entity portfolios across commercial, residential, and mixed-use properties, with strong compliance and audit trail features.

You must figure depreciation for the short tax year and each later tax year as explained next. The last quarter of the short tax year begins on October 20, which is 73 days from December 31, the end of the tax year. The 37th day of the last quarter is November 25, which is the midpoint of the quarter.

If you dispose of GAA property as a result of a like-kind exchange or involuntary conversion, you must remove from the GAA the property that you transferred. Figure your gain, loss, or other deduction resulting from the disposition in the manner described earlier under Abusive transactions. If you choose to remove the property from the GAA, figure your gain, loss, or other deduction resulting from the disposition in the manner described earlier under Abusive transactions.

• It integrates tenant screening, lease management, maintenance tracking, and bank reconciliation to simplify real estate operations.
• These software options offer custom features tailored to property accounting, making them highly effective for the real estate business.
• Some of the free platforms include Baselane, Xero, Stessa, and LandlordStudio.
• Maple can depreciate the leased cars because the cars are not held primarily for sale to customers in the ordinary course of business, but are leased.
• Save time, minimize vacancies, reduce your overheads, and maximize rental profits with Landlord Studo.

For this purpose, real property includes property that will remain attached to the real property for an indefinite period of time, such as roads, bridges, tunnels, pavements, and pollution control facilities. Computer software is generally a section 197 intangible and cannot be depreciated if you acquired it in connection with the acquisition of assets constituting a business or a substantial part of a business. You may not be able to use MACRS for property you acquired and placed in service after 1986 if any of the situations described below apply.