If my tenant deposited rent end of December to cover the rent for the month January 2026, should that be reported as income on rental property when filing taxes for the year 2025 or next year for 2026?
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Regardless of whether you are a cash-basis or an accrual-basis taxpayer, the IRS says rents received in advance are income in the year received.
Regardless of whether you are a cash-basis or an accrual-basis taxpayer, the IRS says rents received in advance are income in the year received.
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