topic Will i pay taxes on relocation assisante from being diplaced as a tenant? in Get your taxes done using TurboTax

Will i pay taxes on relocation assisante from being diplaced as a tenant?

dcohen21 — Tue, 04 Jun 2019 22:52:19 GMT

I live in California. The property i am in has declared an intent to close the rentals. I have been granted a relocation assistance payment. I will be moving in with my girlfriend and will not be using the money for immediate moving expenses. They will pay me when i move out. Will this be taxed?

Probably ... ask them how (or if) they will be reporting...

Critter — Tue, 04 Jun 2019 22:52:21 GMT

Probably ... ask them how (or if) they will be reporting it to the IRS.

Normally taxable as 'other income' (line 21, form 1040; 1...

Rainman12 — Tue, 04 Jun 2019 22:52:22 GMT

Normally taxable as 'other income' (line 21, form 1040; 1099-MISC issued to you). How to avoid taxable income: Ask for a reduction in rent or fees vs. incentive payment. Reduction in rent paid is Not taxable; Cash incentive issued with 1099-MISC is taxable.