QuickBooks QuickBooks
Intuit

 
Home Products Add-ons Industry Solutions Training Support Professional Accountants
 


  << Previous Topic | Next Topic >>  

rental properties

April 25 2003 at 9:58 PM
ronda  (no login)

 
Has anyone out there ever made Quickbooks figure a 1099 for a rental property owner correctly? I try and try, all I can get is net income, not gross income, per owner, and I know the IRS wouldn't approve of that.

 
 Respond to this message   
AuthorReply

(no login)

Rental

April 28 2003, 6:47 AM 

I haven't done it but this might work. Create an expense account called Owner Gross or something like that. Also create another expense account called Owner Deductions. When you write the owners check code it like

Gross 800
Deductions (150)

Net check of 650.

In 1099 preferences, include only the Owner Gross account.

I haven't done this so test it to make sure it works.

 
 Respond to this message   
Current Topic - rental properties
  << Previous Topic | Next Topic >>  
Powered by Network54
 Copyright © 1999-2009 Network54. All rights reserved.   Terms of Use   Privacy Statement