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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 41 - Public Contracts and Property Management |
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Subtitle F - Federal Travel Regulation System |
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Chapter 302 - Relocation Allowances |
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SubChapter A - Introduction |
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Part 302-1 - General Rules |
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Subpart C - Employee's Temporary Change of Station |
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Expenses Paid During Assignment |
§ 302-1.222 - What are the income tax consequences when my agency pays for property management services?
Latest version.
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You will be taxed on the amount of property management expenses your agency pays, whether it reimburses you directly for your expenses or pays a relocation services company to manage your residence. However, your agency will pay you a relocation income tax allowance under part 302-11 of this chapter for substantially all of the additional Federal, State and local income taxes you incur on the expenses your agency pays. You may wish to consult with a tax advisor to determine whether you will incur any additional tax liability, unrelated to your agency's payment of your property management expenses, as a result of maintaining your residence as a rental property.