Sec. 32.5240  Rent revenue.

    (a) This account shall include revenues (including taxes when borne 
by the lessee) derived from the rental or subrental to others of 
telecommunications plant furnished apart from telecommunications 
services rendered by the company. It includes revenue from the rent of 
such items as space in conduit, pole line space for attachments, and any 
allowance for return on property used in joint operations and shared 
facilities agreements.

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    (b) The expense of maintaining and operating the rented property, 
including depreciation and insurance, shall be included in the 
appropriate operating expense accounts. Taxes applicable to the rented 
property shall be included by the owner of the rented property in 
appropriate tax accounts.
    (c) When land or buildings are rented on an incidental basis for 
non-telecommunications use the rental and expenses are included in 
Account 7360, Other Nonoperating Income.