TaxGuyBill
Level 15

For tax purposes, if it was on page 1 of Schedule E, yes, it needs to be separated because it can affect the passive losses when a property is sold.

For tax purposes for a S-Corporation or Partnership, I can't think of why it would matter.

For general accounting and business purposes, your clients should WANT to know how each property is doing financially, and keeping expenses separately would be necessary to do that.

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