If certain conditions are met, an apartment manager can exclude the fair market value of free rent from his or her income.

Question

Quizplus · Accepted Answer

According to IRS Publication 527, an apartment manager can exclude the fair market value of free rent from their income if certain conditions are met, such as the free rent being tied to their job duties and the value being reasonable and customary for the area.

If Certain Conditions Are Met, an Apartment Manager Can Exclude