Expense Tracking

The Expenses tab is where you log every dollar you spend on your properties — repairs, supplies, insurance, property taxes, management fees, and more. Keeping expenses organized in KeyLoft makes tax season much simpler and gives you a clear picture of each property's profitability.

Adding an Expense

To add a new expense, tap + on the Expenses screen and enter:

• Amount — the cost of the expense
• Date — when the expense occurred
• Category — which type of expense this is
• Property — which property this expense is associated with
• Vendor / payee — who you paid
• Description — notes about the expense
• Deductible — mark whether this expense is tax-deductible
• Receipt photo — attach a photo of the receipt

The Free plan supports up to 5 expenses. Upgrade to Pro for unlimited expense tracking.

Expense Categories for Tax Purposes

KeyLoft organizes expenses into categories that align with common rental property tax deductions:

• Repairs & maintenance
• Insurance
• Property taxes
• Mortgage interest
• Utilities
• Property management fees
• Legal & professional fees
• Advertising & marketing
• Supplies
• Travel & mileage
• Depreciation (tracked separately)
• Other

Receipt Scanning & Storage Premium

With Premium, the AI receipt scanner reads your receipt photo and automatically fills in the vendor, amount, date, and suggested category. Just snap a photo and let KeyLoft do the data entry. Receipts are stored on your device and included in iCloud backup.

Mileage Trip Tracking

When you drive to a property for inspections, repairs, or showings, that mileage is tax-deductible. KeyLoft lets you log mileage trips with the IRS standard mileage rate. To log a mileage trip:

1. Tap + on the Expenses screen
2. Select Mileage as the expense type
3. Enter the trip distance and destination
4. KeyLoft calculates the deductible amount using the current IRS rate

Expense Deductibility

Each expense can be marked as deductible or non-deductible. When you view your Taxes & Deductions summary (More → Finances → Taxes & Deductions), KeyLoft totals up all your deductible expenses to give you a picture of your tax liability for the year.

Pro tip: Use voice entry (Premium) to log expenses hands-free — just speak the vendor, amount, and category and KeyLoft creates the record for you.

What's Next

• Review your deductions and tax summary
• Generate a P&L report by property
• Export expense data to CSV or QuickBooks