Real estate mortgage and taxes

[Wilson Pereira]

I have my rental real estate principal and interest mortgage payments going out of my LLC bank account. I believe only interest and real estate property taxes are tax deductible. How do I account for mortgage payments in my P&L reporting for my LLC? Do accounting software like Quicken automatically take care of this or do I need to do something different to handle this correctly?

[Wilson Pereira]

Originally posted by @Bill Hampton:

Wilson,

Check out stessa dot com. Its a free expense tracking software designed for real estate investors. 

Good luck. 

Thank you Bill.. I will check Stessa dot com out. 

Do you know if Stessa dot com handles mortgage payments P&L correctly for tax reporting?