Depreciation of Rental Property

DaisyDave
DaisyDave Member ✭✭
edited May 2021 in Business and Rental Property Tools (Windows)
Will Quicken be able to manage this ?

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    Yes, but not automatically.  I depreciate several assets by recording an expense transaction to the account with a Depreciation category, that I created, used as the category of the transaction.
    You could also, just use a transaction in the account that uses the Account Name, in square brackets, E.G., [Rental House}, as the category which will reduce the value of that account without a specific Depreciation category.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    Yes, but not automatically.  I depreciate several assets by recording an expense transaction to the account with a Depreciation category, that I created, used as the category of the transaction.
    You could also, just use a transaction in the account that uses the Account Name, in square brackets, E.G., [Rental House}, as the category which will reduce the value of that account without a specific Depreciation category.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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