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August 3, 2023
Question

mortgage category

  • August 3, 2023
  • 1 reply
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I would like to know if my home office mortgage payment should be marked as personal,business,or split ?

1 reply

DHeraV
August 3, 2023

Thanks for posting here in the Community forum, Lisa.

 

I'd like to share some helpful information about categories in QuickBooks Self-Employed (QBSE).

 

For categorizing your home office mortgage payment: select Business if it was solely for business purposes, Personal if it was for personal reasons unrelated to your business, or Split if it was a combination of both.

 

While we're not able to provide which category to use for a specific transaction, allow me to share a list of categories that you can choose from. 

 

For the list of categories that best fit for home office mortgage, please refer to these articles:
 

Given all the information, I'd still recommend consulting an accountant to help and guide how to record this transaction. Your accountant can provide more expert advice in dealing with this concern.

 

Moreover, I'll also share this article which can serve as your reference to learn more about recording your self-employed income and expenses, tracking mileage, and preparing your Schedule C tax form in QBSE: Overview of QuickBooks Self-Employed.
 

Drop a comment below if you have any additional questions regarding categorizing transactions in QuickBooks. I'm here to help and available at any time.