PRIYA
Level 2
01-26-2023
11:41 AM
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My client got a reward of $500 in the form of rent reduction for referring a friend to the rental office.
Should I include this as income on Schedule B?
Should I include this as income on Schedule B?
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BobKamman
Level 15
01-28-2023
01:09 PM
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Line 8z, Schedule 1. Or you might want to use Line 8i, so you don't need to enter an explanation.
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PRIYA
Level 2
01-26-2023
11:49 AM
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Rent reduction was for personal property, one time discount of $500 for reference.
BobKamman
Level 15
01-26-2023
12:01 PM
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Doesn't make any difference whether personal or business, it's income. Just because they kept it under $600 to avoid issuing a 1099, doesn't matter.
PRIYA
Level 2
01-28-2023
10:04 AM
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Thanks. Where do you suggest I declare it.
PRIYA
Level 2
01-28-2023
05:58 PM
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Thanks, highly appreciate 👍