Any ideas? --173.28.xx.xxx

I would probably put it under Management fees since it is a fee charged for managing the property (collecting rent, etc.). --99.165.xx.xxx

Where do you put other bank fees? Or would this me more of an office expense? --172.59.xxx.xxx

Management. --184.4.xx.xx

I just looked up the Schedule E form - we've never use that line (#11 Management fees) so I'll use that! --173.28.xx.xxx

You have to claim the income and pay FICA on it, but you are claiming a small amount of income specifically for funding retirement. --24.101.xxx.xxx

too old, ray. already retired, receiving SS and Medicare. No more Roth contributions unless we do conversions, but no direct contributions. --173.28.xx.xxx

In buildium I put all operating expenses against one building. In my categorization menu is "other fees" or something similar. I print out detailed and condensed property reports. My accountant handles the rest. --172.59.xxx.xxx

--76.129.xxx.xx

And I know it's a trivial amount, but I have to account for it somewhere since every time they pay rent or utilities, it's collected. Over time I guess it could add up. --173.28.xx.xxx

Don't feel bad at all about this fee :) --173.28.xx.xxx

Do I have to declare that money? I don't get any of it. --107.147.xx.xx

My mistake, I didn't see the decimal point. I thought you said 60 dollars. --76.129.xxx.xx

If a tenant pays $1000 for rent, they have to deposit $1000.60 and that is what is transferred to my bank account. When the monthly bill for Buildium subscription is rendered, the $.60 x number of transactions is charged in a lump sum. So it evens out, we don't make or lose money. But I'm assuming that over time, I will need to report the "income" and balance it with the expenses because it will be on the annual 1099? It's such a trivial sum it's almost not worth worrying about - I just wondered how to record it. --173.28.xx.xxx

If a tenant pays $1000 for rent, they have to deposit $1000.60 and that is what is transferred to my bank account. When the monthly bill for Buildium subscription is rendered, the $.60 x number of transactions is charged in a lump sum. So it evens out, we don't make or lose money. But I'm assuming that over time, I will need to report the "income" and balance it with the expenses because it will be on the annual 1099? It's such a trivial sum it's almost not worth worrying about - I just wondered how to record it. --173.28.xx.xxx

If a tenant pays $1000 for rent, they have to deposit $1000.60 and that is what is transferred to my bank account. When the monthly bill for Buil dium subscription is rendered, the $.60 x number of transactions is charged in a lump sum. So it evens out, we don't make or lose money. But I'm assuming that over time, I will need to report the "income" and balance it with the expenses because it will be on the annual 1099? It's such a trivial sum it's almost not worth worrying about - I just wondered how to record it. --173.28.xx.xxx

As you described it in your last post, I would just record the $0.60 in and $0.60 out in the same account so they balance each other out. --68.1.xxx.xx

(that was a joke, in case someone didn't follow) --107.147.xx.xx

Unfortunately I see it come in as income :( so I have to account for it somehow. It then goes back out with the PM bill but it's a lump sum at that point. PITA --173.28.xx.xxx