How do you sell an investent rental building?

You'll get no help on here until you answer the following, which you should have provided in the first place.

Quicken year and release.
Mac or Windows?
US or CDN?
Operating system.
Is the house already in an asset account register in Quicken?

Here's how I handled mine:



Notice how I increased and decreased the value of my home through the years according to the estimated market value.  These are categorized back as a transfer to the SAME asset account I'm in...so it's a net wash since it's an unrealized gain or loss.  

The line item in 8/26/16 was a line item to adjust the actual selling price of the home.  Closing took place on 9/26/16.

Here is the split lines for that 9/26/16 transaction:




Note, that the transaction total equals the closing selling price.

The other transactions are all closing cost and prorated taxes associated with the sale.  I also had to pay my stupid village for "turning off" my water account.  

The final proceeds are what was electronically deposited in my checking account, which was the net proceeds for the sale (the actual money I received).  

If you have a mortgage on the property, you will need a transfer split line item to your mortgage liability account to pay off the remaining mortgage amount (which should be the remaining principla balance)...and then another split line for the net proceeds you actually received.  

You can add as many closing cost line items as you need to be as specific as possible.  Or you can just lump them all together.

I itemized them, especially the prorated real estate taxes, the county and city transfer taxes and the attorney fees because those are all tax related items.  At the end of the year when I did my taxes, I didn't have to dig out the closing statement and then interpret what's deductible and what isn't.  It was all there in Quicken.

If you have any further questions, let me know.