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userberry-caper
New Member

Hello, I have lost about $10,000 in 2020 in Aibnb income because of Covid, which was declared a natural disaster. Can I claim this loss in my 2020 tax return and where?

I have looked through the sections for deductions in TurboTax but can't find where to claim this. Thanks.
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DoninGA
Level 15

Hello, I have lost about $10,000 in 2020 in Aibnb income because of Covid, which was declared a natural disaster. Can I claim this loss in my 2020 tax return and where?

Loss of rental income is not an expense you can deduct.  If the property was available for rent all of your expenses can be deducted whether you had renters or not.

View solution in original post

1 Reply
DoninGA
Level 15

Hello, I have lost about $10,000 in 2020 in Aibnb income because of Covid, which was declared a natural disaster. Can I claim this loss in my 2020 tax return and where?

Loss of rental income is not an expense you can deduct.  If the property was available for rent all of your expenses can be deducted whether you had renters or not.

View solution in original post

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