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April 17, 2022
Question

Do I declare rental income in the year it's paid or by when it's due? Example, tenant pays Jan 2022 rent in Dec 2021. Is that income for 2021 or 2022?

  • April 17, 2022
  • 1 reply
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1 reply

ColeenD3
April 17, 2022

As an individual you are a cash basis taxpayer - income is recognized when received and expenses when actually paid.

bjmurp2Author
April 17, 2022

Thank you! I don't know why TurboTax didn't/couldn't answer this question.