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barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 33730
Experience:  Attorney for over 15 years, landlord 26 years
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I am not sure you can answer this or my accountant.

Customer Question

I am not sure you can answer this or my accountant. Concerning my previous question, how do I report the interest payment of $1500 given to my tenant for the 7% NJ interest accural if not place in an interest bearing account?
Submitted: 1 year ago.
Category: Landlord-Tenant
Expert:  barristerinky replied 1 year ago.
Honestly, you are correct and that is more of an accounting question than a legal one and would deal with how the IRS would classify something like this..
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I would suggest posting the same question in the Accounting category here on JustAnswer as they have some really talented and experienced accountants available who will be able to assist.
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thanks
Barrister
Customer: replied 1 year ago.
Thank you. You were great!
Expert:  barristerinky replied 1 year ago.
You are very welcome. Glad to help any time..
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thanks
Barrister

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