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2016 january rent received in 2015 december
I own a rental property. The tenant paid rent for 2016 January on 12/31/2015. Should this rent be included in my income for 2015 tax or should it go into 2016 tax report?
Expert Reviewed
As a cash-basis taxpayer, you report income as it is received. So even though the rent payment was for the next year, you should include this rental income in the current year.
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