Never lose a rental deduction again.
Open Ledger is the tax-ready layer for rental owners who work with an advisor. It keeps track of everything for you: income, expenses, depreciation and losses carried forward, year after year. You see exactly where your tax numbers come from, and you can hold your CPA accountable.
Create your free ledger Why it matters| Line 3 | Rents received | $28,800.00 |
| Line 14 | Repairs 9 receipts | −$2,140.00 |
| Line 18 | Depreciation year 3 of 27.5 | −$9,818.00 |
| Net rental income | $16,842.00 | |
| 8582 | 2025 loss carried in tracked | −$11,400.00 |
| Taxable rental income | $5,442.00 |
A sample of the year-end report, with Schedule E line numbers and the loss carried forward on Form 8582. Figures are illustrative.
Your tax history shouldn't live only in your preparer's software.
Depreciation and unused rental losses build up over many years. Usually the only record is inside last year's return and your preparer's software. If you switch preparers, change software or lose a file, those numbers can quietly drop off. That means deductions you were owed and never claimed.
- See the math, not just the bottom lineEvery figure traces back to the entries and receipts behind it. No black box.
- Carryover losses that follow youA rental loss you can't use this year carries forward until you can. Open Ledger keeps the running balance, so a new preparer starts from the right number.
- Depreciation that never resetsThe building and every improvement are scheduled to the month they went into service. Nothing gets dropped, restarted or counted twice.
- Hold your CPA accountableEnter the figures from your filed return and Open Ledger compares them with your own books. If something doesn't match, you'll know exactly what to ask.
Every dollar logged. Every deduction kept.
No shoebox of receipts in March, and no rebuilding last year's numbers from memory.
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Set up
Tell us about each property
Answer a few questions: how you own it, what you paid, and when it was ready to rent. Add as many properties as you own.
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Log
Snap it, pick a category
Rent in, repairs out, trips to the property. Take a photo of the receipt and we work out how each entry is treated for tax.
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Report
Hand it to your CPA
At year end, download a profit and loss statement for each property, with every receipt. Your advisor files; you keep the record.
What your advisor gets
Built for owners who work with a tax advisor. We don't replace them or file your return. We give them one report per property per year, organized the way the tax form is, so nothing has to be retyped or guessed at.
- Every deduction in the right placeIncome and expenses totaled by the lines on Schedule E, the form used for rental property.
- Depreciation worked outThe building and every improvement, year by year, so the deductions you're owed keep showing up.
- Losses carried forwardA loss this year that can't be used yet is tracked and applied against future profit.
- A mileage log that holds upEach trip with its date, purpose and miles, at the IRS rate for that date.
- Receipts attachedEvery receipt for the year in one download, named by date, vendor and amount.
- What to set asideA running estimate of the tax on your rental profit, split by owner, so April isn't a surprise.
Why we built it
We started Open Ledger to keep the books for our own family's six-unit rental. Every repair, mileage trip, insurance payment and improvement got categorized as it happened, with the receipt attached, and tax season stopped being a scramble.
Most rental owners don't have that. They have a spreadsheet, a folder of photos, and a return they can't easily check. Their depreciation and carryover live somewhere they can't see. We think owners deserve to see their own tax picture, so we're opening the same tool to everyone, free.
- Built for
- Rental owners who work with a CPA or tax advisor
- Price
- Free
- Properties
- As many as you own
- Works on
- Your phone and your computer
Want someone to run the property too?
We manage residential and commercial property with the same open books. You get one point of contact for leasing, maintenance and rent, and a statement that shows every line behind your deposit.
- Itemized monthly statement. Every charge has a date, a description and the receipt behind it.
- Your approval before large repairs. Anything over your limit waits for your yes, except true emergencies.
- A separate trust account. Rent and deposits are held apart from company funds and reconciled monthly.
- Your ledger, kept for you. Everything flows into your Open Ledger, so your year-end report is already done.
| Oct 1 | Rent received | $2,450.00 |
| Oct 6 | Disposal repair receipt | −$186.40 |
| Oct 14 | Smoke detector check | $0.00 |
| Oct 31 | Management fee | −$196.00 |
| Paid to you | $2,067.60 |
A sample monthly statement. Figures are illustrative.
Single-family homes
For owners renting out a house or condo.
- Tenant screening and leasing
- Online rent collection
- Maintenance and move-in inspections
Small multifamily
Duplexes through roughly twenty units.
- Unit turnover and vacancy marketing
- Vendor coordination and bids
- Rent control and local compliance
Commercial
Retail, office and mixed-use space.
- Lease administration and renewals
- CAM reconciliation
- Building systems and vendor contracts
Questions, or want us to manage it?
Ask us anything about the free ledger, or tell us about a property you'd like managed. We reply within one business day.