What RENTAL INCOME means: 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.
- Definition Real Property:
- Dictionary Also known as real estate, includes land, buildings, and their structural components rental income definition.
- Definition Realized Gain Or Loss:
- Dictionary The difference between the amount received upon the sale or other disposition of property and the adjusted basis of the property rental income explain.
- Definition Refundable Credit:
- Dictionary A credit for which the IRS will send the taxpayer a refund for any amount in excess of the taxpayer's tax liability rental income what is.
- Definition Recognized Gain Or Loss:
- Dictionary The portion of realized gain or loss that is subject to income taxation rental income meaning.
How works Rental Income meaning in Tax definitions R .
