Can the app prepare my Schedule E?
Tax Reports builds a Schedule E style summary for personally-held rentals, or a Form 8825 style summary for an LLC or partnership (with your entity name and EIN), from your recorded income and expenses, on a calendar or fiscal year.
Depreciation uses the IRS 27.5-year schedule with the mid-month convention. Enter a Land Value on the property (Financials step - your county assessment lists it) and the report depreciates the basis minus land; left blank, it assumes 20% is land. Acquisition Costs on the same step add to that basis: capitalized closing costs such as title insurance, legal and recording fees, transfer taxes, and surveys - but not loan costs (points, origination), which are written off separately.
Mortgage interest comes from your Form 1098 when you enter it on the property's row in the report (the AI-extracted value from an uploaded 1098 is a suggestion only - nothing counts until you save it), then from bank-reported figures, then from the amortization schedule. Kept security deposits count as rental income in the year you kept them, and card or bank processing fees you absorbed are deducted automatically.
After you file, tap Mark as filed - the report snapshots its totals, and if your records for that year change later, the report warns you instead of silently showing different numbers.
Export it and hand it to your tax preparer. It is a summary of your records, not tax advice - your CPA has the final word.