![]() Rental income statements and a paper trail are two types of rental income records. ![]() Security deposit from a tenant is generally not treated as rental income, except in certain situations.Rent received and landlord expenses paid by the tenant are two examples of rental income.Rental income includes any payment received for use or occupation of a rental property.In this article, we’ll explain the different ways an investor can create a rental income worksheet, and how to keep track of rental income to help satisfy the requirements of the IRS. Money received each month is used to pay normal operating expenses, cover the mortgage, and generate an income stream. Collecting the monthly rent from a tenant is one of the most exciting things about owning real estate.
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