how do I add a mortgage payment expense to my rental property?

I want my profit and loss to show the mortgage payment as an expense.

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @dondreyn,

    You can do this, but it will mean that you won't be tracking your mortgage liability properly (in other words - your mortgage loan balance will not be accurate any more).

    To do this, when you make a mortgage payment, the principal portion of the payment should be posted to a new Quicken Category (that you will need to setup) called "Mortgage Principal Payment" (or something similar).  An alternative to this would be to post the entire payment (i.e. including both principal & interest portions) to a different new category (such as "Mortgage Payment") which you would need to setup as described above.

    Good luck.

    Frankx


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