Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 3:45:39 AM

We had lost rent due to non payment by the tenant. How do we report those loses?

0 4 936
1 Best answer
Level 10
Jun 6, 2019 3:45:41 AM

You don't report them as losses but you don't have to report them as income.

 

4 Replies
Level 10
Jun 6, 2019 3:45:41 AM

You don't report them as losses but you don't have to report them as income.

 

Returning Member
Feb 20, 2020 11:21:20 AM

How do I post this loss. Your answer indicated that I do not have to report them as income but I get W-9s because when I rent my vacation home through another business not my own

Level 15
Feb 20, 2020 12:52:38 PM

It is physically impossible to lose, that which you never had possession of in the first place. You only report the rental income that you "ACTUALLY RECEIVED" in the tax year, and that's it. So you don't have a loss of anything, any way you look at it. You just don't have the income that was expected.

 

Expert Alumni
Feb 20, 2020 1:25:36 PM

You get W-9s? You mean 1099-MISC?

 

As the others noted, all you have is a loss of opportunity, and that's not a loss you can deduct.