You'll need to sign in or create an account to connect with an expert.
Loss of rental income is not reported on a tax return.
Income that was not received can never be entered as an expense or deduction on a tax return.
Loss of rental income is not reported on a tax return.
Income that was not received can never be entered as an expense or deduction on a tax return.
From a tax perspective, there's no such thing as "loss of rental income". You only report rental income you actually receive. If you were not paid rent for a period of time for any reason, then you don't have that income to report anywhere on a tax return.
Take note that with an insurance payout on a claim, that payout will usually include an amount for "loss of rent". That specified amount "is" included in the rental income and gets reported as such.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
tom-lueling
New Member
abarmot
Level 1
sam992116
Level 4
LLarsen1
Level 1
Micky2025
Returning Member