rental income

Money collected from tenants for the use of space. On financial statements, money collected as late fees, from the use of laundry machines, or as forfeited deposits (unless credited to rent) should not be included in rental income but should be listed separately or under “miscellaneous income.”

Rental Income

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.

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References in periodicals archive

The drop in rental income comes at a tough time for the UK retail industry, which has seen a raft of shopping centre giants close branches and demand rent cuts.

Westfield owner hurt by UK retail restructurings

SEGRO made GBP50.5 million from property sales and like-for-like net rental income for the period jumped to GBP146.0 million from GBP140.8 million.

TOP NEWS: SEGRO Half Year Profit Falls But Rent Boosts Revenue

Expenditure incurred on the fabric of the property can also qualify for a deduction against rental income, as repairs, such as exterior and interior painting and decorating, damp and rot treatment, mending broken windows, repointing and replacing roof slates etc.

Matthew Hindle, of Wheawill & [...]

Rental income during the period more than doubled to P180 million from P87 million.

GERI, Emperador post higher earnings in Q1

This could lead to possible manipulationof rental incomes by house owners while filingtaxes, resulting in loss of revenue for thegovernment.Officials from the Ministry of Finance toldBusiness Bhutan that the ministry woulddefinitely consider if the tax on rentalincome requires interventions.

Taxing Rental Income

PRS REIT said the three sites have a combined GDC of about GBP51.5m and are expected to deliver approximately 272 additional new homes and provide an estimated rental income of GBP 3.1m per annum.

PRS REIT to Acquire Four Additional Private Rented Sector Sites in UK

HK Land's rating is driven by the resilient rental income from its investment properties in Hong Kong's Central district.

Fitch Affirms HK Land at 'A'; Withdraws Ratings

Will the Federation of Pakistan Chamber of Commerce and Industries (FPCCI) take up the matter with the FBR to revise the tax slab on property rental income in line with AOP so that filers in this category also stand relieved of heavy tax burden by getting benefit of recent adjustments in tax rates?

Tax on property rent

Assume that all other amounts remain the same, except that the taxpayers do not itemize in 2018 but instead take the standard deduction of $24,000, decreasing their taxable income by that amount under the IRS method and by $21,874 under the court method ($2,126 net rental income minus $24,000).

Vacation home rentals and the TCJA

Net rental income for the quarter was EUR54.3m, as compared with EUR59.4m in Q2 2017.

Citycon's EPS down in Q2 2018

The acquisition will diversify the trust's alternative portfolio and enhance its rental income return profile, it said.

ENBD REIT acquires retail centre for Dh210m