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qw11
October 3, 2024
Question

How to categorize property taxes paid to landlord

  • October 3, 2024
  • 1 reply
  • 0 views

We rent a property from a landlord, and the landlord has us pay the property taxes on the property. Would that payment be categorized as part of the rent we pay or would we categorize it separately as "Property Tax Expense"?

1 reply

kabel1657
kabel1657
October 4, 2024

Hello @qw11,

 

You can categorize the property taxes paid to the landlord as part of your rent expense. Since they're an obligation tied to the rental agreement, combining them with rent simplifies tracking. Just note in your records that the rent includes property tax, so you can clarify whether you need to separate the details.

 

P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?

 

Google my username to see my proven track record!

 

 

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