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Level 1
September 25, 2023
Solved

If a landlord bought out my rental lease, is that income and where do I show it on Turbo-Tax?

  • September 25, 2023
  • 1 reply
  • 27 views
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Best answer by Anonymous_

Assuming this is a buyout of your residential lease (where you reside), the amount you received would be shown as "Other income" (i.e., ordinary income not subject self-employment tax).

1 reply

Level 15
September 25, 2023

Assuming this is a buyout of your residential lease (where you reside), the amount you received would be shown as "Other income" (i.e., ordinary income not subject self-employment tax).