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I am a Rental Mgmt Co, and I collect rent for proerty owners…

I am a Rental Mgmt...
I am a Rental Mgmt Co, and I collect rent for proerty owners into my bank account and then disperse the property owners their portion of rent collected. On my tax return, I include all of the rent collected. What expense name would I use to show the amounts collected that have been send to the property owner?
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Answered in 5 minutes by:
3/7/2018
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,977
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

You deduct it as other income and describe it "Nominee Rent income for XYZ ###". Include his full name and EIN or social security number.

emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,977
Experience: IRS licensed Enrolled Agent and tax instructor
Verified
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