I am selling one of my rental properties and August was the first full month where I did not receive any income from it. Since this is my most expensive property, my income suffered. I also spent over $1,500 on new carpet, which I deducted from the rental income I am reporting. I realize I should probably use two categories (Rental Income and Rental Expense) but since this is my personal finance tracker I try to keep things simple.August Income
$3,928 Mystery Shopping*
$1,621 Rental Income
$1,207 Other Sources
$6,756 Total Income for August
*note that the mystery shopping income will always vary from the monthly summary amounts I post. Here I report actual payments received (cash basis accounting) whereas in my monthly mystery shopping update I report the amount I earned for that month.
Notes:
- My mystery shopping income was much higher than normal... don't expect this to occur again anytime soon.
- The category "Other Sources" includes non-recurring (or semi-recurring) income since I always seem to have a little something that doesn't fall into the other buckets.
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