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Updated almost 9 years ago,
JD MartinPoster
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Pre-paid rent - taxable in the year accepted or year applied?
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?
- JD Martin
- Podcast Guest on Show #243
Skyline Properties