@Omar80 wrote:
Sure, I understand from a legal standpoint the tenant is liable for not paying and may be evicted. For various reasons we aren't able to pursue that (mainly lack of time due to dealing with bigger issues), so my question is from the tax standpoint only here.
Tax-wise you report the rent that was actually received. If a loss then you cannot claim that on tax and must recover that through legal means.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
