In microsoft.public.money, Paul Pedersen wrote:

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Well, if you were to do that, one way is to set up a Classification
called Properties. The actual Property would be set to the address.
Reports could be generated for ReceivedRent, Utilities, etc for each
Classification. Those reports would presumably be printed for the
accountant. That would take the least setup, and would be easiest to
explain to the landlord.

Feeding the data to TurboTax or TaxCut is more complex. Forget the
classifications. You set up a separate category (or subcategory) for
utilities, etc, for each property. From Categories, you would click
SetUpTaxCatgories. Note that for each category assigned to schedule
E, you can select a FormLine as well as a FormCopy. I think the
actual number of schedule Es is less, because each schedule E
handles 3 or 4 properties. Most simple for this is to make each
schedule E type transaction to have a top level category, and to use
twelve subcategories for individual properties.

This would likely be a project for you to get started. I don't think
that your average landlord could set things up well on his own.



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I don't think its quite "MS [as a monolith] dropping non-US
versions". If that were the issue, then offering to sell the US
versions internationally, with the appropriate description of
limitations, would be an apparent choice. What to sell is determined
at the various geographies.

Money Plus knows how to handle Euros etc.

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As with hoops and gymnastics, the measurement of kludginess varies
greatly from person to person. I don't see it as kludgy, but that's
me. Plus, those terms are not actually a measure of the system, but
the perception. It's the initial presentation that often forms the
perception. I have a tendency to try to get into more permutations
and exceptions than I should in explaining something.

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:io64i4l48o954h4a91vjh7levl30bfkp3f[at]4ax.com...
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I have no doubt that *I* will be doing the work here, rather than my friend,
especially setting up. That's one reason I'd prefer to use Money - I already
know how to use it. (I was a Quicken user years ago, but switched because
Money handles stock options, and Quicken didn't.)

Also, to be frank, MS dropping non-US versions of Money makes me wary. The
more I think about it, the more I think it may have been a mistake for the
government to prevent MS from buying Quicken. No doubt the banks, the ones
who have made so many good decisions in recent years, had a hand in that.

But any sort of kludginess has to be avoided. I could handle it if it were
my own system, but I don't want to have to make "free service calls" in the
future.



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Yikes! At least it's only one property. I've gotten spoiled - I wouldn't
want to track even one with pencil and paper.



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It's in there.



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Lovely. Well, as long as he can charge by the hour, he'll be OK.

If the expectation is for a Rental Properties Wizard and a Rental Properties
Analyzer and so forth, I agree. If, OTOH, the requirement is to collect and
report segregated data for the user to analyze, then Money can get there.

"Paul Pedersen" <nospam[at]no.spam> wrote in message
news:uL9LYkRSJHA.4372[at]TK2MSFTNGP04.phx.gbl...
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In microsoft.public.money, Paul Pedersen wrote:

- quote -

Ten properties does not seem much harder to organize than three. It
would make the use of the classifications look advantageous if using
an accountant. However if you are trying to get things to route to
the right schedule E in Taxcut or TurboTax, I think you would need
separate categories per property. That definitely gets into a higher
level of gymnastics. I know a landlord with one property who does
not even use a spreadsheet for the rental. He considers plugging a
cable into the back of his computer is "jumping thru hoops." (How
does "jumping thru hoops rank in the gymnastics continuum?) I think
his accountant just gets a stack of receipts to work with.

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:afv3i4pud0fftbpgc4c2150vvspjlklf24[at]4ax.com...
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Probably so. But my friend currently has ten properties, so it could turn
into gymnastics in that case.

In microsoft.public.money, Paul Pedersen wrote:

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I doubt that you would define "gymnastics" the same way that
"harleyhf" would. Setting up categories and may classifications
works fine for most people.

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FYI, Quicken has a version that does rental property. I've never used it, so
I can't comment on how good it is. It's more expensive, but it seems to be
able to do what Money does not.



"Paul Pedersen" <nospam[at]no.spam> wrote in message
news:OgsrWfQSJHA.3628[at]TK2MSFTNGP06.phx.gbl...
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Wow, and just today I almost recommended Money to a friend for tracking
rental property. Thanks for the warning! I almost got a lot of egg on my
face.



"harleyhf" <harleyhf[at]discussions.microsoft.com> wrote in message
news:B8424757-6A6E-4B75-BDE3-B848388789B2[at]microsoft.com...
- quote -

"Classification" in online help.

"J Taylor" <taylor[at]nospam2me.com> wrote in message
news:vdednWcloP5gumLVnZ2dnUVZ_gSdnZ2d[at]comcast.com...

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"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:OxCk0eyLJHA.1872[at]TK2MSFTNGP06.phx.gbl...
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I didn't know you could do that in Money. I'll check it out.

Some people like doing it this way.

But creating expense/income categories like
123 Flip This House Cir : Utilities
and
31 Oak Pine Fern Loop : Utilities
has the disadvantage that the Utilities subcategories are completely
separate same and this can complicate lots of things. It also doesn't scale
well as all the subcategories have to be re-created for every income
property and they can end up with slightly different names and so forth. For
these reasons, I advise against this solution. But YMMV.

Classification has the advantage of avoiding this issue. With
classification, for instance, you can tag a transaction item with both a
Category and a Classification simultaneously.
E.g., one transaction can have both:
(category) Utilities : Electricity
(classification) Rental Properties : 123 Flip This House Cir

And another transaction can have both:
(category) Utilities : Electricity
(classification) Rental Properties : 31 Oak Pine Fern Loop

Because you can report out by Category or Classification or both, you can
get reports on, say,
- All Utilities : Electricity for all Rental Properties : (any
subclassification)
- All (any category) for Rental Properties : 31 Oak Pine Fern Loop
- Just Housing : Maintenance for just Rental Properties : 123 Flip This
House Cir
and so on.

"J Taylor" <taylor[at]nospam2me.com> wrote in message
news:aKudnfs29o9HfmjVnZ2dnUVZ_r7inZ2d[at]comcast.com...
- quote -

"harleyhf" <harleyhf[at]discussions.microsoft.com> wrote in message
news:B8424757-6A6E-4B75-BDE3-B848388789B2[at]microsoft.com...
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I have several properties, and I use the "Categories" as another poster
mentioned. I create a Category for each property and create sub-categories
like Repairs, Utilities, Property Taxes, Mortgage Interest, Insurance, etc.

I'm not sure what you consider gymnastics.

One tool Money does have that might be helpful--certainly won't solve
everything like a Wizard or some such--is classification. Have you heard of
it or tried it or would you like to know more? If so, you might begin at
"classification" in online help or post back. In very short, classification
allows you to tag individual expense and income transactions with an
additional "classification" that you can then use to report/sort/subtotal
etc. (E.g., category "Other Income : Rental Income" also could have a
classification like "Rental Properties : 123 Pied Piper Ln Unit 467".) See
also http://umpmfaq.info/faqdb.php?q=185.

"harleyhf" wrote:

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In microsoft.public.money, harleyhf wrote:

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I feel that any suggestion could be considered "gymnastics".


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I purchased MoneyPlus believing it would now support my three rental
properties too I private hold - has anyone found a way to make it work
without "gymnastics"? Or does Quicken or other similar software support both
rental income properties for tax records?
--
Christy