To Allocate rental expenses within the rental schedule in HandiTax, follow the below steps:
Split all expenses in the Rental Schedule
Log in to HandiTax.
Select the client and open the tax form.
Double click on the Rental Schedule.
In the Ownership section, in the first column press F5 and select the relevant reference code from the list that generates.
Enter the % owned e.g. 50% for 50/50 split.
Repeat steps 4 and 5 again to add additional clients.
Enter the gross rental income and expenses in.
Save the changes.
All expenses should now be shared between all clients based on the % chosen in step 5.
To allocate an expense to a single client in the Rental Schedule
Log in to HandiTax.
Select the client and open the tax form.
Double click on the Rental Schedule.
In the Ownership section, in the first column press F5 and select the relevant reference code from the list that generates.
Enter the % owned e.g. 50% for 50/50 split.
Repeat steps 4 and 5 again to add additional clients.
Enter the gross rental income and expenses in.
Enter a percentage in the Prv % column to allocate a portion of the expense to a single client.
Save the changes.