Rental property tracking and tax planning

QuickMike

How is the quality of the Quicken product?

J_Mike

For tax planning, my rating would be Weak.

The issue is that Quicken has no built-in system for handling depreciation - and depreciation has a major incremental impact on taxes.

Depreciation is not a "traditional expense" as no cash flow is involved - it is an "allowance" so-to-speak.
I tried to find a suitable work-around yo handle this in Quicken but was never satisfied with the results.

My solution for tax planning was to use the previous years Turbo-Tax and plug in the current years estimates to get a feel for the current years tax liability.
Should note here that Turbo-Tax does handle the depreciation calculations and it carries forward from year-to-year.

As to tracking traditional income/expense items for rental properties, Quicken was excellent.  The tax reports were a very reliable source for data input into Turbo-Tax.