In setting up a rental property in Quicken what do categories do I need to use for rental expenses?
I want to determine the right categories to assign rental income, utility expenses, repairs, etc.
031901
3 Replies
Carl
Level 15
Dec 31, 2021 4:16:29 PM
Simply print out a blank SCH E at https://www.irs.gov/pub/irs-pdf/f1040se.pdf to see. Unless it's changed, you don't just assign categories in Quicken. You also assign specific tax form line numbers. For example, utilities would be assigned to SCH E line 17. Rental income to be assigned to SCH E line 3. Taxes such as property taxes would be assigned to SCH E line 16, and on and on like that.