Advance Rent. Advance rent is any amount you receive before the period it covers. Include it in your rental income in the year you receive it regardless of the period covered or your method of accounting.
Payment for Canceling a Lease. If your tenant pays you to cancel a lease, include the payment in your income in the year you receive it regardless of the method of accounting you use.
Expenses Paid by Tenant. If your tenant pays any of your expenses, include these payments in your income. You can deduct the expenses if they are deductible rental expenses.
Property or Services. If you receive property or services, instead of money, as rent, include the fair market value of the property or services in your rental income. If the services are provided at an agreed upon or specified price, that price is the fair market value unless there is evidence to the contrary.
Security Deposits. If you plan to return a security deposit to your tenant at the end of the lease, do not include it in your income.
- Sea Side Reservations Announces Record Demand For Rentals In Puerto Vallarta - Broadway WorldSea Side Reservations Announces Record Demand For Rentals In Puerto VallartaBroadway WorldSea Side Reservations, an industry leader in Mexican beachfront vacation rental property that consistently exceeds the expectations of clients announces record demand for rentals in Puerto Vallarta Mexico. The company enjoys a favorable reputation ...and more »
- Councils threaten home owners with $1 million fine for renting rooms - Sydney Morning HeraldSydney Morning HeraldCouncils threaten home owners with $1 million fine for renting roomsSydney Morning HeraldSydney property owners are being threatened with fines of more than $1 million for renting out rooms in their homes through short-term accommodation sites such as Airbnb. Others, like Newtown resident Lynn Stanton, have been instructed to apply to ..
- UCSC students burned by hot rental market - San Jose Mercury NewsSan Jose Mercury NewsUCSC students burned by hot rental marketSan Jose Mercury News"We ended up renting to the first person we showed it to," Vincent said. At Distinct Property Management in Santa Cruz, Nora Brink said 40 to 50 people came to an open house at Branciforte Commons, full since early August. About 20 groups of students ...and more »
- Sea Side Reservations Announces Record Demand For Rentals In Puerto Vallarta - Broadway World
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