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Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.510 510 Miscellaneous rent income

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) This account shall include such rents of property owned and controlled by the accounting carrier as are not provided for in the foregoing accounts.

(b) This account shall be charged with the cost of maintenance of the property rented, also specific incidental expenses in connection with such property, such as the cost of negotiating contracts, advertising for tenants, fees paid conveyancers, collectors' commissions, and analogous items.

Note A:  Taxes on property the rent of which is creditable to this account shall be charged to account 64–61–00, Property Taxes.

Note B:  The rent from property carried in account 737, Property used in other than carrier operations, shall not be included in this account. Such rents shall be included in account 506, Revenues from property used in other than carrier operations.

Note C:  Rent and other income from real estate acquired for new lines or for additions and betterments shall be credited to the appropriate road and equipment accounts until the completion or coming into service of the property.

Note D:  Rent and other income from real estate acquired for new lines or for additions and betterments shall be credited to the appropriate road and equipment accounts until the completion or coming into service of the property.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.510 510 Miscellaneous rent income - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-49-transportation/cfr-sect-49-1201-510/

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