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jamesrob0723
Returning Member

Schedule E: Prepaid (Advanced) Rent Expense

As non-Real Estate Professional, I returned a portion of prepaid rent to my military tenant due to a mid-month move out.  To confirm:  Since prepaid (advanced) rent is included in rental income (1099-MISC) I should be able to deduct the returned rent as an expense as long as it occurs within the same year (Cash Accounting)?  If So, is there common language used on Sched E, Line 19  to describe the expense?  I currently have "Advanced Rent Refund" as a description.  Thank you.

2 Replies
Critter-3
Level 15

Schedule E: Prepaid (Advanced) Rent Expense

You are correct.  

jamesrob0723
Returning Member

Schedule E: Prepaid (Advanced) Rent Expense

Thank you.

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