Fundamentals of Taxation 2017
Quiz 8: Rental Property,royalties,and Income From Flow-Through Entities Line 17,form 1040,and Schedule E
A security deposit for a rental property is not reported as income.
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Capital improvements on rental properties may be deducted in the current year.
Residential rental properties are depreciated using the straight-line method over 27½ years.
If a tenant pays an expense normally paid by the taxpayer landlord)in lieu of rent or the full rent),that expense is not considered part of rental income to the taxpayer.
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