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Updated almost 8 years ago,
Do I need to report security deposit and last month payment?
I purchased a property with a tenant at the end of 2016. At the time of closing the selling price was decreased by the total of the security deposit and last month payment. I didn't get money personally by paid less at the closing.
My question is do I need to add that amount that I was credited at the closing to my rental income and report to IRS?