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Level 1

I lease my commercail building on a triple net basis. Should I enter the expenses for the property (which are paid by my tenant) and then show the payments he has made as income?

 
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Level 20

I lease my commercail building on a triple net basis. Should I enter the expenses for the property (which are paid by my tenant) and then show the payments he has made as income?

That depends. Personally, I would suggest you not do it. But it really depends on the setup.

If your tenant can and does claim those expenses on their tax return, (and they very well may have a right to if they actually paid them) then you will not report the expense, or claim the income that applies to that expense, on your tax return.

Now, if the above is true and they paid "you" for those expenses, then yes by all means, you'll claim what they paid you as income, and will claim the expenses that payment applies to. As I'm sure you're aware, they basically cancel each other out.

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Level 20

I lease my commercail building on a triple net basis. Should I enter the expenses for the property (which are paid by my tenant) and then show the payments he has made as income?

That depends. Personally, I would suggest you not do it. But it really depends on the setup.

If your tenant can and does claim those expenses on their tax return, (and they very well may have a right to if they actually paid them) then you will not report the expense, or claim the income that applies to that expense, on your tax return.

Now, if the above is true and they paid "you" for those expenses, then yes by all means, you'll claim what they paid you as income, and will claim the expenses that payment applies to. As I'm sure you're aware, they basically cancel each other out.