I received rent payment January 2, 2018 but is was reported on 1099 from 2017. Can I deduct the January rent from the 1099 for 2017 and report in 2018?

[Phillip1 · Accepted solution]

Yes.

Rent is taxable in the year that the money is received (assuming that you are a cash basis taxpayer). Since the payment was not received until 2018, the money is not taxable until 2018.

• Include the full 1099-MISC in your rental income, and in the list of miscellaneous deductions add a deduction that is labeled "Rental income received in 2018". 
• Keep detailed records for the receipt of your rental income that substantiates the fact that the payment was received after the 12/31/17