Transactions applied to Portfolio?

I have a piece of SaaS software I use for all my rental properties - i.e. Rentometer for my complete Portfolio.
I assume the right Property to assign it to is at “Portfolio” level… or leave blank?
I obviously want to have it as part of my Expenses for tax deductions.
If I put it at the Portfolio level, as opposed to a specific property, what happens?
Is this the right “Property” to assign expenses like that that apply across all properties?


I was about to ask the identical question and saw your post from yesterday. I have the same issue where I have coded 10-15 cost items, several of which are reoccurring software subscriptions, freeway/bridge tolls, gasoline, etc at the “Portfolio” level because I own 5 rentals. Like you, I don’t see a way to pull up expenses at the “Portfolio” level.

Hey Takahito @ttorimoto , to answer your question you need to work backwards from your tax filing and confirm with your tax professional as we do not know your individual situation. Your properties will flow to schedule E and they will each have their own column for income and expenses. You and your tax professional may decide to apply these expenses to a single property on schedule E or divide it evenly across your portfolio.

If you have 1099 or other business income related to real estate and these software costs, you may be able to apply it to Schedule C.

As for recording on Stessa, when you go to print your tax reports, the portfolio tagged income/expenses will show up in a separate column with the name of that portfolio. You can run a report right now and look to see how it shows up in both situations.

I hope that clears things up.

The above discussion is for entertainment purposes only. It is not to be construed as tax, legal, or financial advice.

Hey Evan (@evnblk1), similar response as above. As for your vehicle related expenses, I highly suggest reading this summary from the IRS.

The above discussion is for entertainment purposes only. It is not to be construed as tax, legal, or financial advice.

Great question!
I have a similar question, so I’m adding it in here…
I would like to separate a single expense across all properties in a portfolio. Yes, I can do that with “splitting”, but it would be nice to have the option when you put an expense in the portfolio.
For future updates, maybe an option of when you put an expense into a portfolio would be, “Would you like to split this evenly between all properties in this portfolio?”
That would still allow user preference to leave it in the portfolio level or to have a “quick click” to split it evenly to all properties. When you have 10 properties in a portfolio, it’s a bit tedious to continually “split” transactions across all 10.
For instance, I have an umbrella insurance policy that covers all properties in the portfolio. Every month I have to go in and manually split it between the 10 different properties. A “one click option” would be super helpful.
Thanks for considering.