Deduct Future Expenses Associated with Taxable Advanced Rent?
I am quite sure advanced rent received by landlord is taxable in the year it was received. But is its related future expenses deductible expenses for the same year? Base on matching principle it should be? If a tenant pay two years of advance, I should be able to deduct unpaid estimated future HOA and property taxes, etc for that two years? Otherwise I am having a big taxable income this year but big losses next two? Thanks in advance.