What's the best way to specify future inheritance of rental property? On the Rental Property page it's possible to acquire a property in the future, but it appears a cost ("Cost Basis for Assets You Currently Own") must be specified for it. There appears to be no way to be given or gifted a rental property. The workaround I'm using is to list a concurrent windfall and accompanying property purchase for identical amounts. But this is pretty clumsy, as it shows a sizable expenditure which will never actually happen.
(Yes I'm aware of the maxim never to count an inheritance until it's in the bank.)
Also, what's the best way to specify a private equity holding? To further complicate things, the private equity holding in question is tax deferred and irregularly issues a dividend, e.g. every few years. Currently I just list it as another TD account and guestimate its current value and rate of return, that is, the anticipated future value when it's liquidated.
@jonathan23 You're correct that PRC does not model the inheritance of rental property and the workaround you've employed is how I would do it myself. Regarding the private equity, you might consider a private equity asset class and then allocate some portion of your tax-deferred account to it.
Stuart
Thanks Stuart! Understood. Perhaps consider adding rental property inheritance as a future Pralana capability? Seems like a scenario that's common enough for a fair number of users to benefit from.
Whereas private equity is likely less common and modeled acceptably well as-is, so for that I could understand leaving well enough alone.
