sebski
Level 1

I need to track income and expenses for a rental property in the US and one in Canada. Would it make sense to have separate qb accounts for each? Or add multi-currency?

 
Fiat Lux - ASIA
Level 15

Expenses & Suppliers

imho, you need to open two separate QBO account due to the different location (i.e country) for each asset.

https://quickbooks.grsm.io/US

https://quickbooks.grsm.io/us-promo

 

Then you may consider to consolidate them with another app.

CHT3
Level 1

Expenses & Suppliers

I have a rental property in the US, but do not see where QB includes the categories listed in the IRS Schedule E. Do I just enter them manually?

 

 

JamesM4
QuickBooks Team

Expenses & Suppliers

Hi CTH3. Thanks for chiming in on this thread. I'll be glad to help steer you in the right direction. To get started, are you using the Canadian version of QuickBooks or the US? 

CHT3
Level 1

Expenses & Suppliers

US version. Also I filed my US taxes for 2022 under Schedule E. Quick books does not use that form. So, I need to input the allowable expenses from that form.

JamesM4
QuickBooks Team

Expenses & Suppliers

Thanks for confirming. Since your inquiry is related to the US taxes, I encourage to get in touch with our US support team using this link:   Contact QuickBooks products and services Support (US). Otherwise, feel free to ask questions about the Canadian version of QuickBooks. I've got your back.