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I will be buying a vacation home which has rental commitments beyond the closing date that I have to honor. The rent for the those commitments will come to me and I'll presumably get a 1099 from the management company. My intention isn't to rent it out again, i.e. beyond the commitments I am obligated to honor, in case that matters. I'd love to recognize the rent received as a reduction of the purchase price rather than as income (and have to pay taxes on it!) - which economically is exactly how I approached the offer price.

Does anyone know of any options for how to account for the rental 'income' I'll be receiving? Or is it pretty cut and dried that I have to recognize income (in which case, I'll be looking for deductions!). Thanks for reading.
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