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@Opus 17 asked "Are you sure? Discounts aren't generally taxable income."
When it comes to taxes, it's hard to "be sure", any more (or if ever). But, I think, in this case, it's more of a barter arrangement that a "discount". The tenant is being compensated for his labor.
No. Repairs and maintenance to your personal residence is not deductible. You should be seeking reimbursement from your landlord.
Q. Can a tenant write off repairs done in residential unit in Illinois?
A. No. If the landlord reimburses you, for your out of pocket expenses, he can then write that off. The reimbursement would not be income to you.
Q. What if I spent no money, but just did the work?
A. You can still not write it off, nor can the landlord.
Q. What if the landlord gave me a rent reduction for the work I performed?
A. The amount of the reduction would be taxable income to you. The landlord could not take an actual deduction for that, but would effectively get a deduction because he would report less rent received.
@Hal_Al wrote:
Q. What if the landlord gave me a rent reduction for the work I performed?
A. The amount of the reduction would be taxable income to you. The landlord could not take an actual deduction for that, but would effectively get a deduction because he would report less rent received.
Are you sure? Discounts aren't generally taxable income.
@Opus 17 asked "Are you sure? Discounts aren't generally taxable income."
When it comes to taxes, it's hard to "be sure", any more (or if ever). But, I think, in this case, it's more of a barter arrangement that a "discount". The tenant is being compensated for his labor.
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