rental income

Money collected from tenants for the use of space. On financial statements, money collected as late fees, from the use of laundry machines, or as forfeited deposits (unless credited to rent) should not be included in rental income but should be listed separately or under “miscellaneous income.”

Rental Income

Income received by the taxpayer for allowing another person's use of the taxpayer's property. Rental income includes advance rental payments, late payments, and current payments. Payments received for lease cancellation and forfeited security deposits are rental income the year received or forfeited. Rental income is considered passive income for purposes of the passive loss rules, except for that of qualified real estate professionals.

rental income

rental income

rental income

Rental Income

rental income

Words related to rental income

noun income received from rental properties

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