My neighbor bought a rental property in Nov, 2009. Rental agreement with the tenant was sighed on Dec. 2009. The start date of rental agreement is Feb1, 2010. My neighbor received 6 months advance rent in December. I was wondering whether the rental income should be shown in
2009 or 2010? I told my neighbor since the use and occupation of property is in year 2010, the advance rent should be reflected in 2010, it makes since to reflect it in 2010. Did I give him the right answer?- posted
14 years ago