I have three rental properties (yeah I know). In the past I have used a tax software package (Quicktax) that is no longer available so I'm trying on-line. There are three options for rentals: individual, combined and portfolio. No matter which I select I don't get the option of submitting an individual IR3R showing income, expenses and depreciation - only income and expenses for one property.
How do I get to list insurance, rates, R&M etc?
I have put the question to IRD but..........waiting, waiting
I don't really want to put in a paper return. Surely there is an easy answer.

hazelthecat - 2021-05-15 14:20:00

hazelthecat wrote:

I have three rental properties (yeah I know). In the past I have used a tax software package (Quicktax) that is no longer available so I'm trying on-line. There are three options for rentals: individual, combined and portfolio. No matter which I select I don't get the option of submitting an individual IR3R showing income, expenses and depreciation - only income and expenses for one property.
How do I get to list insurance, rates, R&M etc?
I have put the question to IRD but..........waiting, waiting
I don't really want to put in a paper return. Surely there is an easy answer.

LV will be on your case soon!!!!!!!!!!!!
Easy answer is accountant, couple of grand a year, just do it off your banking system.
We do our 3 this way, takes 15 minute meeting at end of year to sign off.

smallwoods - 2021-05-15 15:25:00

Sounds good but an accountant does not fit in with my other business interests. Tried it for a while but it cost more in fees than it was worth.
Quicktax was an excellent package that did everything easily - and the tax man was happy with it. Pity they don't recognise it any more.

Edited by hazelthecat at 4:44 pm, Sat 15 May

hazelthecat - 2021-05-15 16:42:00

You enter expenses and depreciation on the next screen, after you've put in income (at least that's how it works when you do them as combined).

scarlettnz - 2021-05-15 16:44:00

Not exactly sure if this is what you want, but did you tick the IR3R box on the Secondary Forms page? You can then add as many IR3R forms as you need and total up the net rents on the IR3 form.

leonhouses - 2021-05-15 19:32:00

Thanks all - fixed
Scarlett - didn't go to the next screen as I was confused as I could not add expenses as I was used to in the past.
Leonhouses - ticked the box and am now finding I can add as many as I need.

hazelthecat - 2021-05-16 12:19:00

The member deleted this message.

hazelthecat - 2021-05-16 12:27:00