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hosken
New Member

If I am paid for December rent in January (cash basis taxpayer) are rental/personal days for December included in the following year for usage calculations on 2nd home?

 
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TaxGuyBill
Level 9

If I am paid for December rent in January (cash basis taxpayer) are rental/personal days for December included in the following year for usage calculations on 2nd home?

No.  The rental/personal days are entered when they actually happen.  They are used to prorate the expenses.  When you receive the income does not affect that.

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1 Reply
TaxGuyBill
Level 9

If I am paid for December rent in January (cash basis taxpayer) are rental/personal days for December included in the following year for usage calculations on 2nd home?

No.  The rental/personal days are entered when they actually happen.  They are used to prorate the expenses.  When you receive the income does not affect that.

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