Rental expenses in the Rental Property Profit/Loss tab

Anil

I have Quicken for Windows 2020 (R27.42)
I setup a rental property with tenants and linked it to the property. This is a property that I used to live and hence managed its expenses just like regular expenses. Now that I rented it, I am classifying those expenses with a specific tag that I want to track my rental expenses. There are certain expenses that are not being shown in the Profit/Loss tab. For example, the mortgage payment (Principal, Int and Escrow) is tagged with this tag and I dont see this expense in the P/L tab. What makes a transaction to be not shown in the P/L tab? I dont enter transaction through the Add transaction feature in the Rental tab. When the transactions comes through my bank, I enter them and tag them with this specific tag.

Frankx

Hi again @Anil,

The principal is payment on the debt to purchase the property - that's not a deduction, but you'll get depreciation on the property instead.  Similarly, the escrow payments will go into a fund to pay property taxes, and perhaps other expenses (like insurance) but you'll be able to deduct those items as well when actually paid.

Yes, the interest on the loan is deductible.  And you are also correct that if any of these expenses are flagged to Schedule A - that is wrong because only personal deductions go on Schedule A.  Rental property items go on Schedule E.  The depreciation, likewise should be shown as a Schedule E deduction.

Frankx