Tax Center and Schedule E

The Tax Center assembles a filing-ready view of a tax year straight from your general ledger, so what you hand a preparer matches your books to the penny. The year picker defaults to the prior year (that's the return you're filing in Q1) and spans every year with journal-entry activity.

Four summary tiles sit on top: Rental Income (rent only — IRS Schedule E gross rents), Total Expenses, Net Income, and Properties. Note the tiles intentionally don't subtract left-to-right: Net Income nets all income (including HOA dues and late fees) against expenses, while Rental Income is rent alone. Hover each info icon for the exact definition.

Schedule E, per property

The Schedule E tab breaks income and expenses down per property, matching the IRS Schedule E (Form 1040) line items — advertising through Line 19 Other. Line 18 (Depreciation) auto-computes from each property's building basis using straight-line MACRS with the mid-month convention (27.5-year for residential, 39-year for commercial buildings), based on the acquisition data captured when you onboarded the property (purchase basis, land value, placed-in-service date).

Export the whole breakdown with the CSV or PDF buttons — a totals row is included so a CPA can paste it into a return. If a property shows a missing depreciation basis warning, open the property and upload a HUD-1 (closing statement) to fill in the acquisition data; until then that property has no Line 18, and depreciation is often your largest deduction.

The rest of the tabs

• Form 8825 — the partnership/S-corp sibling of Schedule E, per property with totals.
• K-1 — per-owner allocation packet for partnership and S-corp owner entities.
• Depreciation — the total expected depreciation for the year plus, per property, the annual, accumulated, and remaining amounts; expand any property for its full year-by-year schedule. Properties missing acquisition data are listed separately with a link to fix them.
• Deductions, AI Advisor, Tax Documents, Checklist — deduction analysis, AI recommendations, tax-tagged document uploads, and year-end readiness items.

1099s

The 1099 Status tab covers contractor and owner forms: View 1099 Report shows vendor payment totals to identify who crosses the filing threshold, and Generate 1099 forms produces printable 1099-NEC (vendor payments) and 1099-MISC (owner distributions) forms. Corbica does not e-file 1099s for you — you (or your preparer) file the generated forms. If your organization's primary state requires an extra state form for contractor payments (California's DE-542, for example), a callout appears automatically with your paid-vendor count for the year.

CPA package and closing the year

The Year-end readiness card tracks the pre-filing checklist and offers a one-click CPA Package (.xlsx) download that bundles the year's key statements. Once the return is filed, close the books through year-end from the banner here — see the Closing the books article.

Access and plan gating

Opening the Tax Center requires accounting.view; the mutating actions (reversing posted depreciation, AI recommendations) require accounting.manage, while closing the books accepts either accounting.manage or the narrower accounting.close. On the Starter plan you get the Schedule E tab and its exports; the remaining tabs (depreciation, deductions, 1099/K-1, CPA package) unlock on Professional.