Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-21-2016, 10:21 PM
Junior Member
 
Join Date: Mar 2016
Posts: 2
Perplexing Landlord Utilities Expense?

I started renting out a house I own 5-1-15 and pay for the trash removal utility.

The problem is that my trash removal bill is paid yearly in one lump sum for the period of Nov2015-Oct2016 of the next year.

Question 1) Do I have to divide the bill by 12 months and only use the portion that would be the last months of 2015 that the bill would have covered? (In this case November and December of 2015.) or could I use the whole bill for 2015 utility expenses even though it covered trash for the next year?

Question 2) Can I only use trash removal utility bills paid in 2015 on my 2015 expenses? Or can I use the portion of the 2014 Trash bill that paid for Nov2014-Oct2015 period. From my calculations this bill would have covered a portion of the period that the house was rented (May, June, July, Aug.,Sept., & Oct. of 2015)?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Moving Deduction and Utilities mjs2609 Tax Credit 1 04-12-2015 10:13 PM
landlord received money from garnished wages kmccliment Rental Real-Estate 2 01-16-2015 01:30 AM
Is it a business expense or is it something else? finsforever Sole-Proprietorship 3 07-27-2014 11:25 AM
Payroll Tax Expense atomicx914 Income 0 01-14-2014 12:45 PM
How much of the Leasehold improvements can a landlord or tenant deduct in 2011? TaxGuru Depreciation 0 06-23-2011 01:29 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.