Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 3:43:21 PM

Can I divide the full amount I have received for a 3 year lease by 1/3 per year for the years to which it applies?

0 1 531
1 Best answer
Expert Alumni
Jun 4, 2019 3:43:23 PM

No. You have to report as rental income the full amount you received, even if the amount covers the 3 years.

Please see this IRS document, in particular the paragraph on Advance rent:

https://www.irs.gov/taxtopics/tc414


1 Replies
Expert Alumni
Jun 4, 2019 3:43:23 PM

No. You have to report as rental income the full amount you received, even if the amount covers the 3 years.

Please see this IRS document, in particular the paragraph on Advance rent:

https://www.irs.gov/taxtopics/tc414