Announcement

Collapse
No announcement yet.

Commercial lease - advance rent

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Commercial lease - advance rent

    Taxpayer received 3 years advance rent for a commercial lease on building he owns. Does taxpayer have to report all of the advance as income in the year received? I know he would if this was residential property, whether or not the taxpayer is cash or accrual. Is there any difference for commercial property?

    Many thanks.

    #2
    Advance Rent

    No difference for commercial property.

    Comment

    Working...
    X