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Assigning Rental Property Expenses from personal accounts

New landlord here.  Setup my rental property and now I'm trying to track and categorize expenses from my personal checking (replaced carpet and paid with a personal credit card) under my total expenses for the rental property.  Can I not create a category that will be assigned as an expense for my rental property?  How do I attribute this cost to my rental property?

Do I have to manually create an expense for every expense I incur with my credit card?  I don't want to have an entire separate credit card just for rental expenses.

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Answers

  • GeoffG
    GeoffG SuperUser ✭✭✭✭✭
    I would suggest creating a category for tracking. I created "Rental Expenses", then any reporting that you customize should include this category for accurate income/expense reporting. You can optionally include Schedule C if you choose to.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 20H2
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