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kmduehring
New Member

I own a house which I rent out for less than the "median" rent listed in Turbo Tax for the area. Can I claim the differance as a loss? How? Where?

 
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‎June 3, 2019 1:23 PM
last updated ‎June 03, 2019 1:23 PM
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Marketstar
Level 7

I own a house which I rent out for less than the "median" rent listed in Turbo Tax for the area. Can I claim the differance as a loss? How? Where?

No, the IRS does not allow a loss for income not received, but you may end up with a loss after deducting your qualified rental expenses including depreciation.

See What kinds of rental property expenses can I deduct?

https://ttlc.intuit.com/questions/2569433-what-kinds-of-rental-property-expenses-can-i-deduct

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‎June 3, 2019 1:23 PM
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1 Reply
Marketstar
Level 7

I own a house which I rent out for less than the "median" rent listed in Turbo Tax for the area. Can I claim the differance as a loss? How? Where?

No, the IRS does not allow a loss for income not received, but you may end up with a loss after deducting your qualified rental expenses including depreciation.

See What kinds of rental property expenses can I deduct?

https://ttlc.intuit.com/questions/2569433-what-kinds-of-rental-property-expenses-can-i-deduct

‎June 3, 2019 1:23 PM
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