rent

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Related to Rental Expenses: rental income

Rent

Regular payments to an owner for the use of some leased property.

Rent

A regular, usually monthly, payment that a person makes in exchange for the use of an asset he/she does not own. That is, rent is the payment on a lease. The term is most often used to refer to payments on a leased dwelling or other piece of real estate.

rent

the periodic payments made to the owners of ASSETS (for example, household and industrial premises, car hire) for the use of these assets. See LEASE, LEASING, LEASEBACK, INCOME.

rent

the periodic payments made to the owners of ASSETS for the use of their land or other assets as either FACTORS OF PRODUCTION or for consumption. In aggregate terms, rents are a source of income and they are included as a part of NATIONAL INCOME. See also ECONOMIC RENT, NATIONAL INCOME ACCOUNTS.

rent

Payment for the privilege of possessing space one does not own.
References in periodicals archive ?
* VACATION HOME RENTAL expenses can be deducted in the following order: real estate taxes and interest expenses, operating expenses, rental activity direct expenses and depreciation.
Moody's expects, however, China Mobile's adjusted EBITDA margins will be largely stable, because operating lease rental expenses are added back to EBITDA under Moody's adjustments.
280A also defines vacation home expenses and provides special rules that limit the rental expense deductions that a taxpayer can take.
When a new home is subsequently purchased, the taxpayer must vacate the rental property and actually reside in the new home for it to qualify as his principal residence.(9) If the taxpayer is unable to sell the old principal residence before occupying the new one, the old residence may be rented out temporarily without causing it to lose its status as a principal residence(10); further, the taxpayer may deduct rental expenses incurred without disqualifying the property.(11) However, if the taxpayer rented the residence for an extended period, a court might determine that it was no longer a former principal residence.(12)
1034, while also allowing depreciation and other rental expenses incurred during the rental period.(17) The IRS did not contest the taxpayers' deduction of interest expense on Schedule A; at that time, the interest was deductible under Sec.
However, in Letter Ruling 9404016, the Service held that rents from a net lease of personal property were not deemed "passive investment income." The IRS determined that the taxpayer's large employee compensation and office rental expenses amounted to substantial costs even though the rental was a net lease.
Depreciation (or "cost recovery" as it was termed in the Economic Recovery Tax Act of 1981 (ERTA)) is one of the first items to be considered when considering rental expenses. Depreciation is "a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescene) ...
Example: Taxpayer X has several rental properties with combined annual income and expenses as follows: Rental income $50,000 Rental expenses (25,000) Depreciation (5,000) Net rental income $20,000