Rent

Rent means:
a payment for the use of property. Rent expense is deductible for the use of business property, but not for personal uses. Rental income is taxable income, though reduced by the business expenses of operating the property, including depreciation. Rent is considered passive income except when derived from an active business such as a tool rental business.

See also other Tax Terms and Definitions in U.S.A.

advance rent.

See Depreciation in the United States Encyclopedia of Law and Depreciation in the World Encyclopedia of Law.