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Updated over 6 years ago on . Most recent reply

Rizwan Sharif's profile image
Rizwan Sharif's profile image
Rizwan Sharif
  • Member since Dec 16, 2019

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Rizwan Sharif's profile image
Rizwan Sharif's profile image
Rizwan Sharif
  • Member since Dec 16, 2019
Rizwan Sharif
1
Votes |
2
Posts
General Landlording & Rental Properties

Advance Rent, Refund to not have to declare it

Rizwan Sharif
Posted

I received 6 month advance rent from our tenants (applicable from Dec-May). However now i have to declare it as income in current year. If I return the rent of Jan-May to tenants, and switch the lease to monthly payment, will that absolve me from declaring the earlier received payments?

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