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No, it doesn't work that way.  You will report the annual income you receive in rents.  Then you will deduct your property annual deductions: mortgage interest, insurance, utilities, repairs ...Read more

You should work with your employer and the IRS on the tax issue. You will owe little or no taxes. Ed Dimon

No, you must report the income in 2015.  As an individual, you are a cash basis taxpayer and you must report the income in the year that you receive the payment.

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2016 Presidential Candidate Profile: Mike Huckabee

Follow this link to read about my 2016 Presidential Candidate Profiles. Candidate Profile: Mike Huckabee Current Office: None Age: 60 (born August 24, 1955) Party: Republican Real Clear Poli ... Read more

2016 Presidential Candidate Profile: Rand Paul

Follow this link to read about my 2016 Presidential Candidate Profiles. Candidate Profile: Rand Paul Current Office: United States Senator from Kentucky Party: Republican Real Clear Politics P ... Read more

Study on inheritances: Three trillion euros to be passed on by 2024

Around three trillion euros will be passed on in Germany between 2015 and 2024. That is the finding of a study by the Deutsches Institut f¿¿r Altersvorsorge (German Institute for Retirement Provisio ... Read more

Car Accident Lawsuit: How Taxes Will Apply To Your Settlement

If you have sustained injuries as a result of a car accident, you are probably entitled to compensation for your losses. If you win your case, you are going to receive a settlement. There are differen ... Read more

What Are the 2016 Federal and Massachusetts Estate and Gift Tax Filing Figures?

The Internal Revenue Service has recently announced that in 2016 the federal estate tax exemption will rise from $5,430,000.00 to $5,450,000.00 per person. (Under current law, this figure is adjusted ... Read more

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