Rental income

Hello

I have a rental property managed by a property management company. My tenant paid Jan 2024 rent in Dec 2023 to the property management company. I didn't receive my payout until Jan 2024 from the management company. Do I have to pay tax on that income in 2023?

posted

Income is considered received when it is received by either you or your agent. Since the property management company is acting as your agent, the income is considered to be received in December.

Income Constructively Received

(Edited 2/22/24 @ 10:24AM PST) @jjenner776

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