The Law Dictionary

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RENT EXPENSE Definition & Legal Meaning

Definition & Citations:

Rent paid in advance can only be deducted during the period to which it applies, so if a business paid all of its rent for 2010 and 2011 in 2010, it would only be able to deduct the 2010 portion of the rent in 2010, and would have to wait until 2011 to deduct the 2011 portion.

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