Write offs on our RV lot (a tax question)
Last year we bought a RV lot in a nice RV park, with the plans to use it ourselves next year, but in the mean time the park has been renting it out for us. We get a certain amount, and the Park gets...
Forum Discussion
It depends on how the money flows. If the rent was $1000 paid by the renter to the agency and then you get $700 and the agency keeps $300, you would show $700 rental income and deduct any additional expenses you incur. If the $1000 is paid directly to you, you deduct the $300 you pay to the rental agency as a management expense against the $1000 you show as revenue. In both cases you end up with $700 of income less expenses. What you cannot do is deduct the $300 fee from your $700 income in example one.
