Real Estate

Primary residence is a multi-family rental

Hello, I am planning to purchase a 3-family home and use one unit as my primary residence while using the other two units as rental property. How do I account for this in ESPlanner Plus? Currently I've created my primary residence as a rental with a token rent ($10) and put the entire residence in the Real Esate section, but I wonder if this will account for it properly. In reality, I should be able to deduct mortgage interest for the portion I will be occupying, and I don't think this method would do that.

Specifying Home


ESPanner's "Guide" for the "Estate" tab says the following:
"If you specify that you want to retain your home through the end of your life, the program will use the terminal home equity to cover bequest and funeral expenses of the last survivor. This is why the spending reports refer to excess funerals and bequests."
My question is where do I specify Whether or not I want the home value to be used for end-of-life expenses?
James Mavrogenis

Installment sale of real estate

I want to enter an installment sale of real estate. I presently own the interest and will sell it in a few years. In the meantime, I receive rental income. Once I sell it, I will receive installment payment of principal and interest for seven years.
I entered the capital gain portion of the principal payments, separately the return of basis portion of principal payments and the interest portion in Special Receipts, each having the applicable tax attribute.
So I want to enter a future sales price of zero for the real estate, but can't seem to do that in the program.

Problem purchasing future real estate

First Scenario: (Own Property 1, will sell in 2017-- no problem there). Will purchase Property 2 in 2017. For Property 2 under Current Market Value, I have $300,000. Under future mortage information: I put 100% under (I have that it will never be sold).

In the report, under "living standard per adult", let say I get: X
The figure seems high, so I try the following:

house sale scenario?

I'm planning to put my house on the market next year, to downsize. We'll sell the current house without having bought another, to remain more flexible in terms of market opportunities.

My initial plan was to simply rent something for a short time until we find, buy and prepare the next house for occupancy. But I just thought that it might be a good idea to buy a 2BR condo with the proceeds, with the intent of it becoming income property.

Need help with Real Estate folders data entry

1. Expenses tab, item #5: Is the growth percentage real growth over and above inflation rate?
2. Expenses tab, item #5: Should the "Number of Years" entry be consistent with the "Year Property Will Be Sold" on the General tab? If so, what should "Number of Years" entry be if "Year Property Will be Sold" is "Never"? If not, how should I interpret / populate the "Number of Years" field?

Suggestion: I'm renting out a Condo. It would be helpful if there were a "Condo Fees" expense category in the Item 1 dropdown.

Thanks in advance for your help.

How is setup a primary, vacation, and a weekend house to sell in a specific year?

Let’s assume a primary, vacation and a weekend house. I would like to setup ESPlanner Plus to model selling any of them in a specific year. I’ve set these properties in the Real Estate screen however where does the cost show up? Does it lower Discretionary Spending? Because it is an expense, I assumed it would be in the Total Spend Report but I don’t see it.

Is there another setup someone can recommend?

real estate input

owned numerous rental unit, unable to assign different rent to each respective property. They all show the same amount. When I input a new one, the program wiped out the old amount and all properties show the new revenue and expense. Does the property only allow 5 properties ?

Basis after rental property improvements


For purposes of figuring tax basis for my rental property, the original building date of service was in 2004, original cost of $77,648, and accumulated depreciation of $21,821 thus far, leaving a basis of $55,827 to plug into the current year of my depreciation schedule (which I would enter in the "Basis" portion of Real Estate, General tab. However, in Sept. 2014 I took out a loan for building improvements in the amount of $180,815 that will begin their own, new 39-year depreciation schedule starting in Sept. of 2014.