How to categorize a transfer from one rental account to another?

Barb

I have two rental accounts plus my personal. I had someone lend me money to help me in a time when one rental unit was down. How would I put that into the register and also, if I was transfering from one acct to another , how does that work out for income?

NotACPA

The money lent to you is a Liability.  Whether is a personal liability, or a business liability, depends upon how you report the income and expenses for those rental properties.  Are they on your Personal tax return ... or do you have a separate business and the Rentals report on that tax return?

Same question re: the transfer of money from one account to another.  BUT, in general, a transfer is neither income nor and expense ... unless the rentals are incorporated separately.

NotACPA

The money lent to you is a Liability.  Whether is a personal liability, or a business liability, depends upon how you report the income and expenses for those rental properties.  Are they on your Personal tax return ... or do you have a separate business and the Rentals report on that tax return?

Same question re: the transfer of money from one account to another.  BUT, in general, a transfer is neither income nor and expense ... unless the rentals are incorporated separately.