Initial settlement from forced administration and fundamental question travel expenses
December 7, 2018 | 35,00 EUR | answered by Steuerberater Bernd Thomas
1: Attachment V)
I acquired a condominium in 2017 (title registration in the land register on 18.11.2017), which was in forced administration but was purchased by me freely.
Now I have received a calculation from the forced administrator:
+ Prepayments of operating costs by the tenant proportionally for the period from 01.01.2017 - 18.11.2017
+ Received cold rents proportionally for November and December in full
- Housing allowance proportionally for November and December in full (was still debited from the forced administrator's account)
- Property tax for the year 2017 in total
= Credit in my favor with the note that the operating cost statement must be made by me as the new owner.
How should this be accounted for now?
Operating cost prepayment = advances?
Property tax for the entire year, or only proportionally?
What about the other deductible expenses from the annual accounts of the property management that were not apportionable? For the entire year or again proportionally?
2: Attachment N)
I work as a primary school principal and have recently started working as a director in two primary schools. Is it correct that trips to the first and original primary school can be claimed with the distance flat rate, and all trips to the second and new primary school can be claimed as travel expenses?
Thank you very much!
Dear questioner,
I am happy to answer your inquiry based on the information provided in an initial consultation on frag-einen.com. The response is based on the facts you have provided. Missing or incorrect information can affect the legal outcome.
For the determination of rental and leasing income, the principle of inflow and outflow applies. This means that you should report the actual amounts paid as both income and deductible expenses. If payments are received by a third party as an agent, an inflow occurs for the principal. It is questionable if the administrator can be considered as an agent.
In your case, I believe the inflow and outflow will occur in 2018. I recommend coordinating this with the tax office to avoid any disadvantages. You should report the cold rent as rental income and the utility advance payments as charges.
Property tax should be entered as deductible expenses. If you have paid property tax for the entire year, report it in that amount. Homeowner association payments should also be reported as deductible expenses, but any contributions to or withdrawals from maintenance reserves should be deducted. Maintenance expenses should be classified as maintenance costs. It may be necessary to differentiate between maintenance costs and restoration costs.
Best regards,
Bernd Thomas
Tax advisor
Dipl.-Kaufmann (FH) Bernd Thomas, Tax Advisor, Neustadtswall 85, 28199 Bremen, Email bernd.thomas@yahoo.de, VAT ID No. DE316948369, Member of the Hanseatic Chamber of Tax Advisors Bremen, Registration number 111705, Professional liability insurance with R+V Allgemeine Versicherung AG, Mittlerer Pfad 24, 70499 Stuttgart, Insurance sum: 250,000 euros per individual claim; annual maximum benefit: 1,000,000 euros (for all damages in one insurance year)
