Asked by Felix Miranda on May 07, 2024
Verified
If a tenant pays an expense normally paid by the taxpayer (landlord)in lieu of rent (or the full rent),that expense is not considered part of rental income to the taxpayer.
Rental Income
is the income received by property owners from leasing out real estate properties, such as buildings or land.
- Comprehend the tax treatment of capital improvements and additional expenditures incurred by tenants.
Verified Answer
HP
Helen PeaceMay 09, 2024
Final Answer :
False
Explanation :
When a tenant pays an expense that is normally the responsibility of the landlord, this payment is considered part of the rental income for the landlord for tax purposes.
Learning Objectives
- Comprehend the tax treatment of capital improvements and additional expenditures incurred by tenants.
Related questions
Capital Improvements on Rental Properties May Be Deducted in the ...
Meredith Has a Vacation Rental House in the Sierra Mountains ...
Robert and Melissa Own a Home in Big Bear Lake,California ...
Meredith Has a Vacation Rental House in the Sierra Mountains ...
What Are the Rules Concerning the Deductibility of Travel as ...