Rent Received for Post Office Bldg - not taxable?

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  • TaxLadyinPA
    replied
    I'm trying to figure

    how to explain this to a 90 year old ....

    who informed me ..... "We just thought the world of ole Charlie. He prepared our return for years, such a sweet man."

    Now who am I to suddenly say "Well tuff tushy ... He has been doing it wrong so he isn't so great after all" *L*

    I'm totally exhausted and getting a *If you don't like the way I do it, then take it someplace else to be prepared ... I'm not wasting my time to explain the law ... I do it right or you go elsewhere* I really am brain wasted *L* ... and yes ... I too am counting the days yet looking at the piles waiting on me yet *sigh*

    Thanks for your 2 cents worth of response

    Leave a comment:


  • ChEAr$
    replied
    Just when you think you've seen 'em all

    Up comes this one. Previous preparer must have though there was an exemption for
    rents received from US gobment. He was wrong, as you rightly know.

    Countdown!
    14 days to go.

    Leave a comment:


  • Rent Received for Post Office Bldg - not taxable?

    I have a new client almost 90 years old.

    They have owned the Post Office building for over 50 years.

    The preparer who has done their return (all those years) NEVER claimed the rental income on the post office. He retired this year so they came to me.

    They receive a 1099-misc - Rents from the Government.

    I looked at 2 previous returns 05 & 06 (done by pen and paper btw) and I asked them why there was no rental income attached to the return.

    They said their old preparer said they didn't have to claim income received from the Post Office rental and they have never claimed it.

    Am I missing something here? Is there some law I don't know about that says you don't have to claim rental income on Post Office buildings?
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