What year do I count income for?

[Andrew Katz]

My tenant paid a portion of their rent for December on 12/31/24 (late). I use apartments.com, so the money didn't end up in my account until 1/6/25.

Is this considered income for 2024 or 2025?

[Linda Weygant]

Quote from @Ashish Acharya:

@Andrew Katz Since you're likely using the cash basis of accounting, income is recognized when you actually receive it. Although the tenant initiated the payment on 12/31/2024, the funds didn’t reach your account until 1/6/2025, making it 2025 income. Keep records of the payment timing to substantiate your reporting if needed.

This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.

 I think you've forgotten about the concept of Constructive Receipt.  If/when a taxpayer's agent (which is what Apartments.com is) receives funds, that is considered to be constructive receipt to the taxpayer.  A cash basis taxpayer will recognize income when they or their agent receives the funds.