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Updated about 7 years ago,

User Stats

120
Posts
18
Votes
Dave S.
  • Investor / Wholesaler
  • Erie, PA
18
Votes |
120
Posts

Reimbursement from Tenants for utilities

Dave S.
  • Investor / Wholesaler
  • Erie, PA
Posted

So here is the scenario....Utility bill comes to my address (these specific utilities are in my name), I pay for them so that they are on time with no late fee. The next month the tenants reimburses me. Wouldn't the reimbursement from the tenant be considered "income" and I would have to pay taxes on that? If not how would i classify these transactions for tax purposes?

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