Recording Work Done In Lieu Of Rent

[Paschal]

s About Taxes)/Recording work done in lieu of rent Advertisement Expert: Adam Shay, CPA - 7/13/2010 Thank you in advance for your help.  We have a rental property and the tenants have put a cement floor in the garage on it(with our permission).  How to I record the work and materials by tenants in lieu of their paying rent?

[kennon]

Barter work is still recorded as income at fair market value of the service/product provided so you would record the value of the work as rental income.  You would also have a capital improvement on the rental property that you could depreciate over time.

Adamhttp://www.wilmingtontaxesandaccounting.com