Oh good, thank you.
Regarding the City rent tax, I should then report it as income as well as expense, correct?
The first tenant broke the lease and moved out. The place was a mess and we had to have quite a bit of work done before my 2nd tenants could move in. Those expenses were paid by me (through the management co), then billed to the tenants who broke the lease. Eventually the management co was able to get all but a small amount reimbursed from the tenant. My net expense for that whole thing was under $40. Is it necessary to report any of that?
Just remembered that I received a non refundable pet deposit from the second tenants. Management Co did not include that as income, I believe they should have because it's mine to keep. Correct?
