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RTO Tax Question after Tenant Buyer Purchases

dxg19

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Registered
Joined
Jun 4, 2008
Messages
18
My question is in regards to the monthly option credit, do I calculate this in the totally monthly income, then subtract it from the sale price. Or do I just keep it off the monthly income and treat it as a deposit like a normal purchase.



Just trying to do my taxes and not sure which way to do it. This RTO was a 1 year deal and the tenant has fully purchased the home.



Thanks





David
 

Thomas Beyer

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REIN Member
Joined
Aug 30, 2007
Messages
13,881
It is income either way you calculate it. Ideally,treat it as a liability, ie deposit, then as an asset on purchase .. Or call it monthly income if you wish . The total should be the same,either way.
 
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