topic Re: Question on claiming lost rent income in Business & farm

Question on claiming lost rent income

Chief601 — Fri, 12 Mar 2021 22:30:22 GMT

My wife has a property with 3 apartment s in it. When a tenant moved out of one apartment there was tenant damage and other wear and tear. Do to Covid we were unable to get anyone to repair the apartment for 7 months. Are we able to claim loss of rent as income based on the inability to rent the apartment? Thanks to anyone who can help

Re: Question on claiming lost rent income

MinhT1 — Fri, 12 Mar 2021 22:41:57 GMT

No. You cannot claim lost rent. You indirectly get the benefit of lost rent by reporting less rent and paying less tax.

Re: Question on claiming lost rent income

Chief601 — Mon, 15 Mar 2021 11:27:58 GMT

Thanks for taking the time to answer.