IN ARIZONA If the tenant already has credit, do we include the rent that they are paying ahead of time in the rent income or just the amount that we are charging them for that month? If anyone is able to help with TPT taxes that need to be filed monthly for a commercial rental property, please help. Thank you.
No, you must accurately state the amount of rent received at time of due date based on adjustments and changes might alter the books if you do not have the cash on hand.