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Updated almost 7 years ago,

Joseph M.'s profile image
Joseph M.'s profile image
Joseph M.
  • Investor
  • from Boulder, CO
  • Member since Dec 12, 2015
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118
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16
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Joseph M.'s profile image
Joseph M.'s profile image
Joseph M.
  • Investor
  • from Boulder, CO
  • Member since Dec 12, 2015
Connect
Joseph M.
  • Investor
  • Boulder, CO
16
Votes |
118
Posts
Tax, SDIRAs & Cost Segregation

Cash basis vs accrual basis at tax time

Joseph M.
  • Investor
  • Boulder, CO
Posted

I currently own a rental property in my name and was paid in advance for rent. I asked my accountant if we could account for it on an accrual basis and he told me that I wouldn't be able to. Can anyone provide some insights around this, as I am currently showing a good deal of profit which is lowering my tax return significantly? 

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