Can rental income that is supposed to be received in 2016, but not received until 2017 be reported in 2016 or does it have to be reported as 2017 income
We rent out our pasture, the payment is usually made in November as a lump sum.. This year the payment was late and not made until Jan 2017. Can I report the income as 2016 income or does it have to be reported as 2017 income.. Thanks
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1 Best answer
NewGuy
New Member
May 31, 2019 9:15:26 PM
The income has to be reported during the year it was received.
1 Replies
NewGuy
New Member
May 31, 2019 9:15:26 PM
The income has to be reported during the year it was received.