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

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According to the IRS, if certain conditions are met, an apartment manager can exclude the fair market value of free rent from his or her income. These conditions include the rental discount being provided for services as an employee, the discount being offered under a written agreement in the normal course of the employer's business, and the discount not exceeding the fair market value of the lodging.

If Certain Conditions Are Met, an Apartment Manager Can Exclude