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unspecified rental income

Rodger Decker

I'm running my schedule E report and I'm getting unspecified rental income. I have storage units and I tag the people with multi units with multi tags. It appears that the ones with multi tags get put under unspecified rental income instead of rental property income. Why is this? Is there a work around?

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Quicken_Tyka

Hello @Rodger Decker

Thank you for taking the time to visit the Community to report this issue, although I apologize that you have not received a response.

What is the name of the category of the transactions that are associated with the Unspecified Rental Income?

Once you have that detail, can you please navigate to Tools > Category List and confirm the Tax Line Item for this category?

Thank you,
-Quicken Tyka

Rodger Decker

I think this what you requesting. All shortage unit are under; Schedule E: Rents Received. Then the category is Property: rental income. The Tag is SSS(South Side Storage) SSS:B1 and so on. As long as I have single Tag they fall under Rent received (South Side Storage). But when I have same customer that rents multiple unit I do the multiple tags. This is when it falls in the unspecified rental Income Maybe I do this a different way. Thanks for help.

Rodger

Quicken Francisco

Hello @Rodger Decker

Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. Thank you for also letting us know a bit more information. One last thing I'll ask of here to assist us is could you by chance provide screenshots of the issue as well. This will help see the issue. I'll leave steps below on how to add screenshots.

https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows#latest

Once you've had the chance let us know more and we'll take another look!

Thanks,

Quicken Francisco

J_Mike

Rodger Decker said:

I'm running my schedule E report and I'm getting unspecified rental income. I have storage units and I tag the people with multi units with multi tags. It appears that the ones with multi tags get put under unspecified rental income instead of rental property income. Why is this? Is there a work around?

Sounds like QWin doesn't know how to [roprtly interpret the multiple tags.

As an attempt at a workaround;
For a payment covering multiple units - suggest trying a split transaction. Each split would include the amount. category and tag for a specific unit. The total of the splits would match the total payment received.

If this works, you could then memorize and schedule these split transactions for future payments.

Rodger Decker

Thats what I did last year. for Quicken Francisco, here are two screen shots you are requesting. Hope this helps

Screenshot 2021-03-12 161717.png

Screenshot 2021-03-12 161829_1.png

jujujuju

Your screen shots tell it all.

The unspecified rental income items are not properly split. You have more than one unit tag assigned to a rent payment. Properly split these transactions (or remove the erroneous tag) and you problem should be solved. Note the correct splits on your Schedule E rents received list.