Create Schedule E Expense Accounts
I am setting up rental properties in Quicken and I feel like I must be doing a lot of extra work. How do you get it to create the Schedule E expense accounts? I don't see any way other than creating each Schedule E account for each property and feel like there must be an easier way.
I appreciate any tips.0
From C. D. Bales:
"How do you get it to create the Schedule E expense accounts?"
Quicken does not have expense (or income) "accounts": Quicken has income and expense "categories".
If you open your Category List and select either "Rental Property Income" or "Rental Property Expenses", you should see the default rental property categories that Quicken provides (*).
If you need more rental property categories, you can create them yourself, making sure to assign the appropriate Schedule E tax line item to each one.
When you record rental property transactions, you can use the same category for multiple properties; just assign the appropriate Property Tag to each transaction.
[ (*) If you do not see any rental property categories in your Category List: click the Options button at the foot of the List and select "Manage Categories". Select Rentals and Royalties in the "Available categories" dropdown, select (Mark) the categories you want, and click the Add button, then click OK.]Quicken user since Q1999. Currently using QW2017.
Questions? Check out the Quicken Windows FAQ list0