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Rental Expenses Year Incurred/Paid
I have several rental expenses that were incurred in 2016; however, the checks did not clear until Jan-2017. The invoices/receipts associated with these expenses reflect 2016. Should the expenses be claimed in 2016 or 2017? For example, windows repairs were completed on my rental property on 12/26/2016; however, the vendor did not cash the check until 1/3/2017.
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Rental Expenses Year Incurred/Paid
You can deduct expenses in the year you mail the checks, even though they won't be cashed or deposited until early next year.
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