Hello,
A lot of NYC apartment rentals are offering bonuses due to covid19 and the slow market but are these bonuses taxable?
The apartment I’m interested in is offering a 12k signing bonus for a one year apartment lease. This bonus will be wired to my bank. (The rent is $3k per month but they advertised the rent to be $2k per month. They say they’ll wire me 12k in the beginning and then I have to pay $3k rent each month)
Do I have to report this $12k in my tax return? I’m basically giving back the money they’re giving me.
I’d appreciate your help.
Thanks
