I rented our condo for part of 2016 and 2017 but collected the entire rent in 2016. Do I report the entire rent income in 2016 or just the portion that applied to 2016?

[Anonymous]

We rented our condo for a three month period from 12/1/2016 to 2/28/2017.  The entire rent amount was collected in 2016.  Do we only claim the rent that was for the time rented in 2016, or the entire amount?

[ThomasM · Accepted solution]

IRS calls this "advance rent" and advises that ". . .you include any advance rent paid in income in the year you receive it regardless of the period covered or the method of accounting you use."(https://www.irs.gov/taxtopics/tc414.html)