I don't see Rental Income default category

Question

Hello,

I have Quicken Classic Business & Personal,  R63.21, subscription.

I am trying to enter rental income. The rent center enters the transaction without category for rental income.

for expenses also, i don't see any default rental categories. Am i missing something?

NotACPA · Answer

There is NO "default predefined category for rental", you need to create one, as explained above by @UKR.

There's a predefined category GROUP, but no specific category for rental income or expenses … probably because those with multiple rental units usually want to track by unit, not just under the broad "Rental Income" category.

Also note that, in creating your own categories, you'll need to attach Sched E tax lines to them.  It's via the tax lines, not the category name or usage, that Q knows how to report that income and expense.

SkyBird-4263fd · Answer

i would like to use the default predefined category for rental, and i dont see rental property related predefined ones. what are my options?

Do i need a fresh install or create a new quicken file?

UKR · Answer

If your Category List doesn't have any Rental Income or Expense Categories already predefined, you can easily add needed categories.

First go to Tools / Category List. Be sure to select "Show Full list" and put a checkmark into the box at "Show hidden categories" at the bottom of the view.

Do you have Category Groups for Rental … already defined in the left column? If so, select them to view what's there.

If you are missing Rental categories, you can easily add them from a separate list of predefined categories.

Click the Options button, click Manage Categories.

In the box on the left side select Rents & Royalties to see the list as shown in the image.

Click to select the Rental Income and Expense categories that you will be needing, skipping any Royalties categories.

Click the "Add >" button. This will add the selected categories to the Category List.