I was hoping that someone here could help me out.
First Question:
I’m the process of purchasing an investment property but unsure how to enter the numbers into the accounting software package (Property manager Pro-4)
Purchasing costs such as banks fees, Stamp duty and pest & building inspection, I have thought belong in buying/selling costs section
But I don’t understand the Allocated and Unallocated amount, what do I do here?
I have enclosed a screen shot of what I have done to help explain. And have I done it correct. I hope I have uploaded it correctly.
Just one more question, buying costs, I have been told that you claim this over 5 years, is this correct and what defines these cost: is it, Stamp duty, initial bank cost, bank cheques, building and pest inspection.
I have been told the buyer’s agent fees can not be claimed not until you sell the property.
Thanks
Stephen
First Question:
I’m the process of purchasing an investment property but unsure how to enter the numbers into the accounting software package (Property manager Pro-4)
Purchasing costs such as banks fees, Stamp duty and pest & building inspection, I have thought belong in buying/selling costs section
But I don’t understand the Allocated and Unallocated amount, what do I do here?
I have enclosed a screen shot of what I have done to help explain. And have I done it correct. I hope I have uploaded it correctly.
Just one more question, buying costs, I have been told that you claim this over 5 years, is this correct and what defines these cost: is it, Stamp duty, initial bank cost, bank cheques, building and pest inspection.
I have been told the buyer’s agent fees can not be claimed not until you sell the property.
Thanks
Stephen