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    virajcanadaturbo
    New Member

    Is prepaid rent taxable in the year it was received? For example, is prepaid rent for 2023 taxable in 2022 if it was received in 2022?

     
    posted
    ‎April 7, 2023 12:33 PM
    last updated ‎April 07, 2023 12:33 PM
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    TurboTaxGinette
    Intuit Alumni

    Is prepaid rent taxable in the year it was received? For example, is prepaid rent for 2023 taxable in 2022 if it was received in 2022?

    To help you please see our TurboTax FAQ. You will need to choose the method that's right for you as seen in this link: Choosing An Accounting Method for Rental Income 

     

    Thank you for choosing TurboTax.

    ‎April 12, 2023 7:21 AM
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