I am a homeowner and am renting out part of my house to a tenant. My renter did not pay rent for 4 months in 2023 but has paid me for the missing months in 2024. Normally I'd take deductions with home mortgage with this rental situation (Schedule A and Schedule E) but I don't know how my taxes will be affected for 2023 and 2024.
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1. You will report the rent actually received in 2023 and 2024.
2. You can still deduct the mortgage interest in 2023, even with the missing rent.
3. No problem, the rent was simply late.
4. Comment back if you need further help.
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