Is there any way to link 2 accounts?

race944t

Problem: I have a business with my son. I own let's say 75% and he owns 25%. It consists of rental property, investments, land, etc. If I use my account to record all the transactions, then I overstate my net worth and it complicates things at tax time. If I use a separate account for the business, then my assets, liabilities and net worth are inaccurate.

I'm afraid I know the answer, but is there any way to link 2 Quicken accounts for asset, liability and net worth purposes. Yes, I know I can create accounts in my personal Quicken account and periodically update Real Estate, a Partnership Liability, and asset accounts with totals from the Partnership account, but I was hoping some of you wizards would have a better idea

NotACPA

How does this joint property report it's taxes? On it's own, or proportionality on the tax returns of each of you?

If proportionality, there's no easy way to do that in Q.

If on it's own, then that investment should be in it's own Q data file, NOT the file of each of you, and you should just show an offline Investment type account for your 75% interest in which you periodically/monthly adjust the value.

The problem with "on each of your returns" is that Q can't really handle partnerships (which is what this would seem to be). Q expects to be a personal (i.e., "single tax entity") system and there's a bunch of "outside of Q" calculations that you'd need.