Can I deduct a loss of income for rental property due to hurricane Irma? Do I need to file a separate form?

fripp4life1 · ‎June 6, 2019

I am filing Form 1065 for an LLC Partnership

MinhT · ‎June 6, 2019

The loss of potential income is not deductible.

The "deduction" is implicit as you report a reduced rental income while you can still deduct all rental expenses while the property remains on the rental market.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

greggd29 · ‎June 6, 2019

That’s funny. Because when u enter $0 rental income, TurboTax sends u packing. So, how is it that I can deduct “all” the expenses associated with renting despite Irma? (The mortgage is easy) what about all the REST of the expenses? Where do u enter them?

Expert does your taxes

Do it yourself

Resources

Support

Can I deduct a loss of income for rental property due to hurricane Irma? Do I need to file a separate form?