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 Regular Method (Automobile Expenses):
- Dictionary A deduction for business use of the taxpayer's vehicle based on actual cost of gas, oil, repairs, tires, washing, etc. plus a deduction for depreciation rental income definition.
- Definition Regulated Investment Company (Mutual Fund):
- Dictionary that uses its capital to invest in other companies. The two principal types are closed-end and open-end mutual funds. Shares in closed-end mutual funds, some of which are listed on stock exchanges rental income explain.
- Definition Recovery Property:
- Dictionary Recovery property is a term used to describe property that is eligible to be depreciated under either ACRS or MACRS. See ACRS and MACRS rental income what is.
- Definition Regulations:
- Dictionary Commissioner publishes his interpretation of the tax Code in the form of regulations. They do not have the force and effect of law except in those cases in which the law on a particular subject calls rental income meaning.
How works Rental Income meaning in Tax definitions R .
