topic I have lost income from a rental property. Do I receive any tax credit? If so, where and how do I record this information to receive any possible tax benefit? in Investors & landlords

I have lost income from a rental property. Do I receive any tax credit? If so, where and how do I record this information to receive any possible tax benefit?

mmyjak70 — Sun, 21 Mar 2021 18:36:19 GMT

Re: I have lost income from a rental property. Do I receive any tax credit? If so, where and how ...

ColeenD3 — Sun, 21 Mar 2021 18:45:27 GMT

No. There is no credit for lost rental income. You simply have less income to pay tax on.

Re: I have lost income from a rental property. Do I receive any tax credit? If so, where and how do I record this information to receive any possible tax benefit?

Carl — Sun, 21 Mar 2021 18:47:20 GMT

Lots of people lost money on rental income; especially with the pandemic. But the fact is, you can not lose that which you never received and paid taxes on in the first place. So you have no "loss" to claim on any tax return. All you have is less rental income to report. That's it.