Do I need to pay taxes on closing costs

[Hunter Gibson]

Hi everybody,

I am a new investor and just bought my second home on Dec 1 2023. In the closing costs I received one months rent along with tax rebates for the portion that the seller owned the home. I am not collecting rent outside of closing costs till January 1, 2024.

Do I need to pay/ file tax returns for 2023? 

Thanks for all the advise