Re: Rental Property ~ Forgiving tenants' rent during COVID

Rental Property ~ Forgiving tenants' rent during COVID

We have two rental properties. During the worst of the COVID-19 pandemic in 2020, our tenants had no incomes for several months due to no faults of their own. (They were still on payrolls, not unemployed, but simply didn't have any work.) We forgave them their rent for those several months and assumed payment of utilities for them. The properties were fully occupied, but do we still consider them to have been rented for the full 12 months at fair market price?

posted

Yes,

in your situation select that the rentals were active all 12 months.

That question (in part) is used to identify people that claim to have rentals and want to claim expenses on the property when it's only used for family members

Nice to hear of people helping one another out.

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