P&L for Rental Property
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John Zei
Member ✭✭
Quicken Home & Business includes a business P&L report, but that report does not work for rental property. The problem is that the Quicken P&L uses categories connected for tax purposes to Schedule C. Under the IRS rules Rental Property income and expenses are reported on Schedule E. Is there a work around for this? The lack of a P&L for rental property is strange, since the Quicken cash flow and balance sheet reports do work for rental property.
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Comments
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The P&L report only utilizes categories that have a Business tax line associated with them. Sched E is such a tax line so assign Sched E tax lines to your rental categories.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
All categories are associated with the tax line Schedule E. But Quicken P&L report requires that the category be associated with Schedule C. Hence the inability to create a P&L For rental property. .0
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