Rental Business in Q Mac
I can create a separate business for each of my rental properties, each has to have its own schedule E. How to I separate the categories? I only see an option for Personal or Business in the category settings.
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What categories do you want to separate, for more than Personal versus Business? You don't need separate categories for each rental property. In each transaction, you identify what business the transaction is assigned to. So you need one category for, say, Rental Income, even if you have 5 different businesses (rental properties) you're tracking. When you generate reports, you can see your category data for all businesses or isolate to just the one(s) you want.
Quicken Mac Subscription • Quicken user since 19930 -
Ah, OK so I have to go to the transaction to identify the business. Thanks.
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@gregjsmith Think of the Business field on a transaction as an equal to the Category and Tag fields — ways to slice/dice/aggregate your transactions in searches, reports, and a business dashboard. If you have 20 business expense categories and three rental properties, you could create duplicate categories for each property, resulting in 60 categories. Instead, you can just keep 20 categories and add the additional dimension of the three businesses. If you added a fourth property, you just add one more business instead of 20 more duplicate categories.
Quicken Mac Subscription • Quicken user since 19930
