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Updated almost 9 years ago,

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JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
15,740
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Pre-paid rent - taxable in the year accepted or year applied?

JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorPosted

Good afternoon all!

Before I do my taxes, I have a unit in which one of the tenants (a college student, parent paying) prepaid their rent for the first 6 months of 2016 in late December. Should I claim the income based on the time frame for which it was applicable, when I collected it, or does it matter so long as I declare all of it? 

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Skyline Properties

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