Hi All. Attempting to do things on my own. Once I learn how to do things, I’ll be set, but there is a lot to know. The very first thing I am confused on is how to categorize the actual purchase of my rental property. There doesn’t seem to be the perfect fit for it. I figured out where to put loan costs, and closing costs. Would the actual loan amount go under CapEx, new aquistion?
How do I account for the 20% down?
Thanks for any help.
@bethwalker62 While there’s no substitute for the advice of a qualified CPA, this help article will help get you started: