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Sure you would report the rental income on the schedule E of your 1040 federal income tax return if you are a individual taxpayer and you are receiving rental income for the cell tower.
All of your gross worldwide income from all sources has to be reported on your 1040 federal income tax return.
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What is journal entry rent income accured?
[Debit] rent income receivable [Credit] rent income
Should I report income from renting a room in my home to IRS What if I have homestead exemption?
If you made money on the rent you will need to claim it as income.
Can a pensioner get income tax rebate on his paid house rent?
Rent has no effect on income tax
If a person 18yrs and over applies for disability and pays rent does his or her income includes that income of the landlord or household?
If you are any age, your income includes all the money you, yourself, have coming in. It does not include your parents's income. It does not include your landlord's income. Income is money. Either you have money coming in or you do not. I assume you are filling out an application. If you do not have any income then you put a zero on that line. It may have other lines for explanation. You may need to explain that you are living somewhere because of some charity or some other reason. Fill out the form to the best of your ability.
Is the income from rent a credit or a debit?
Credit
I rent land to a farmer and he pays me money for the use of my land. What kind of income is that?
Rental income.
What is journal entry rent income accured?
[Debit] rent income receivable [Credit] rent income
Should I report income from renting a room in my home to IRS What if I have homestead exemption?
If you made money on the rent you will need to claim it as income.
What is the journal entry of rent income?
rent due to landlord
Can rent a home i own and still collect ssi?
You can rent a home and still collect social security money. Social security money is meant to be a subsidy and not your only source of income.
If you make an income of 30000 a year after taxes and your rent is 30 percent of your annual salary How much money do you have to pay for rent every month?
750
Why land rent is considered as an Unearned income?
land rent is an unearned income
What is rent income?
I believe Rent Income or "rental income" is any income received from a property you own & have tennants in who pay you "rent" to live there. This is usually considered a form of income, obviously depending on the country you live in.
Is rent added in national income when royalty is there?
Rent and Royalty are added in national income under income method.
Can you and your roommate be a waitress and have a rent of 1500 in NY?
Waitresses can make really good money in New York but it's not a steady income that you can depend on to pay rent. It would be better to have a job that provides a set income so you know you will always be able to make your rent payment.
What is the journal entry if you get some money to vacate the rented store room?
You would debit bank and credit rent payable (this will reduce the overall rent) or other income.
Can a pensioner get income tax rebate on his paid house rent?
Rent has no effect on income tax
