Nelson 5 Comments No matter which version of the software you use, Quicken provides a handy format for tracking real estate investments such as income property. By using the Quicken software for this recordkeeping, you can prepare summaries of income and expenses by property for monitoring your individual real estate investments. You can also easily complete the Schedule E income tax form you use or make it easier for your tax accountant to prepare your Schedule E tax form. Moreover, if you set up asset accounts for each of the individual real estate properties you hold and then use these to record both capital improvements and any depreciation, you can easily calculate any gains or losses stemming from the sale of a piece of real estate. This short discussion, therefore, describes the basics of how you do this in any version of the Quicken software. However, an important note: Describing Your Real Estate Holdings To track income and expense by individual real estate property, you need to do two things:
May 12, · In this video, we'll show you how to use Quicken Rental Property Manager to: Track income and expenses for multiple properties - Tag them for each property to keep them separated. Unfortunately, Quicken does not offer a Rental Property Manager version for Mac. There have been others who have requested both the Rental Property Manager and Home and Business versions be made available for the Mac, but as yet, Quicken has not had the opportunity to provide either. Jan 20, · Quicken Rental Property Manager is a good choice if you are the do-it-yourself landlord with a few rental properties and you want to have a personal finance software as well. It will let you manage both your personal finances and rental properties within the same program.
There are several options to help you get over this. You may decide to pass all your bookkeeping on to an accountant. But if you're running a small rental business, you're probably already tight on cash — and that can get costly. The other option would be to handle all the bookkeeping yourself to keep your costs down. But if you have no accounting or bookkeeping background, it can get a bit tricky to try to balance everything on your own.