Bartering parking space for free rent - tax implications
I current rent an apartment in San Francisco for $2130 and have a garage parking space for which I pay $0, as stated in my lease. My landlord wants to turn the garage into ADUs. First he offered us (each tenant) $10,000.00 to give up our space. Then he offered 9 months of free rent. Are both of these scenarios considered taxable income? I've read the IRS publications on Taxable Income and Bartering and am still unclear. Thank you in advance.