QuickBooks Report on Interest Paid by Property

September 30, 2023

Q: I use QuickBooks for property management and I record loan payments in QuickBooks. How do I find a report on how much interest I paid on each property? I need it for tax purposes.

A: When repaying a loan, enter the principal and interest amounts separately. Do not forget to designate Class on every transaction.

Depending on how you set up the QuickBooks file and the type of account you created, it could be either Profit & Loss by Class or Balance Sheet by Class.

You can modify and memorize the reports to show exactly what you are looking for.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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