topic Recieved a Cash for Keys payout for a property I was renting on January 1st. The check however was written for December 2016. Do I count this as 2016 or 2017 income? in Investors & landlords

Recieved a Cash for Keys payout for a property I was renting on January 1st. The check however was written for December 2016. Do I count this as 2016 or 2017 income?

jcheaky — Sat, 01 Jun 2019 02:05:15 GMT

We moved out of property on Dec 30th.

Yes, according to the IRS, Cash for Keys payments are tax...

PatriciaV — Sat, 01 Jun 2019 02:05:17 GMT

Yes, according to the IRS, Cash for Keys payments are taxable income for the year you received the payout. Regardless of when the check was written, if you received the check in 2017, the income would be reported on your 2017 tax return (not due until April 2018).