Understanding Schedule E- Part 2

Real Life Planning Podcast

In Episode 54 of the Real Life Planning Podcast, Vekevia Tillman-Jones, CFP®,MBA, walks rental real estate investors through the second part of our deep dive into IRS Schedule E—focusing on understanding expense categories and depreciation. Whether you’re preparing your real estate numbers to share with your tax preparer or want to understand how your rental properties are really performing, this episode will help you get organized and make smarter decisions.

“Tracking your expenses in the same categories as Schedule E throughout the year makes tax time easier and helps you see how your rentals are truly performing.” – Vekevia Tillman-Jones

This week on Real Life Planning Podcast:

💡 Why is Schedule E essential for rental property owners? [00:00:20]

💡 What counts as personal use vs. fair rental days—and why does it matter? [00:05:55]

💡 Which expenses can you deduct—and how should you track them? [00:09:39]

💡 How does depreciation work for residential vs. short-term rental properties? [00:17:12]

💡 Who qualifies for loss deductions—and what happens if you don’t? [00:21:03]

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About the Real Life Planning Podcast

Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.

The ReaL Life Planning Podcast is for educational purposes only. None of the information discussed is intended as investment, tax, accounting, or legal advice, nor as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, real property, or other securities or non-securities offering.

Real Life Planning, LLC is an Investment Advisor registered with the States of New Jersey, New York, Texas, Virginia, and California. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or completeness of, any description of securities, markets or developments mentioned. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, REALLIFEPLANNING.COM.