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Level 1

If we have an investment property home and we rent it out do we post this as an income? we basically use the payment from the rent to pay the investment property home.

 
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Level 11

If we have an investment property home and we rent it out do we post this as an income? we basically use the payment from the rent to pay the investment property home.

@sharonr-trotter 

 

"we rent it out do we post this as an income?"

 

  • Yes, it should be recorded as a Rental Income.

 

we basically use the payment from the rent to pay the investment property home.

 

Okay. it should be recorded as Loan Payment for the principal portion which is a liability account and the interest portion (if any) is an expense.

 

Hope this helps!

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