Rental income loss partial year

romaryka — Mon, 03 Jun 2019 17:36:44 GMT

I have a rental property that has been empty since 01 September 2016. How do I reflect the loss of income (four months' rent, which is the amount of my mortgage on that property) for tax purposes?

You reflect it by not recording any income. There is no...

DDollar — Mon, 03 Jun 2019 17:36:48 GMT

You reflect it by not recording any income. There is no deduction for income not received unless you are an accrual based tax payer (which you are not). Even though you did no receive any income for that period, you can still deduct your expenses, including depreciation, mortgage interest, and property tax.

topic Rental income loss partial year in Investors & landlords

Rental income loss partial year

You reflect it by not recording any income. There is no...