We do have a CPA & will ask her but just wondered if anyone on here has had experience with this? --47.133.xxx.xxx

You didn’t collect rent during these months. No income was collected, so no income will be reported to irs. You don’t claim anything special, just lower than normal rental income. --149.76.xxx.xxx

Yes, I agree. That's how it was explained to me, when I had some lengthy vacancies as I pulled a disaster back together again. No income in, so no tax out. Being able to deduct losses from vacancies might come into play with short-term rentals, but not for regular rentals like ours. --137.118.xx.xxx

Gotta ask since when is paying rent, where you live, something to claim on a 1099???? --99.103.xxx.xxx

#1 you "don't" claim........ sorry. got excited.... --99.103.xxx.xxx

To be clear, you do not report as income the rent that you did not collect, but you also do not deduct that unpaid rent from your income. --76.4.xxx.xxx

Lost rent is a disaster for the economy where that effects the entire economy where there are no capital expenditures on the rental buildings or rental houses. Rental housing support a local economy where goods and services are bought locally not the third world. In the order to bring carbon foot print then the rental buildings and houses have to retrofitted to use less energy which requires a significant investment. When so thinks how large rental housing is where here it ranks very high in the economy here which is larger aero space industry. You can not run a country, province or state on views of the extreme left wing nuts who do not even represent 0.01 per cent of population. Count that in votes then voted out. I remember the time they voted for the Socialist Democratic provincial government in the province of Ontario where they only lasted one term. It common here the Socialists Democratic governments only last one term. They brought in penalties for repairs and renovations on rental buildings and houses where one cold November the workers who were tenants went home then the workers never voted for the Socialist Democratic government again. --99.236.xxx.xxx

no tax on no rents. unless you are on accrual basis and so then would write of. now the repairs you have to do are expenses so may help reduce your overall tax bill a little as a trfr from schedule e --107.77.xxx.xx

Somebody help me out on this please. Hope somebody can agree. --47.133.xxx.xxx

You can file a 1099-C on him, which is FORGIVENESS of debt. Forgiveness of debt creates taxable income to HIM but he could likely be in a very low tax bracket if he is on SSI and won't care, except he gets a bill for some change for the taxes and interest on the amount forgiven. If you do this, it is never collectable - you've forgiven it. --50.82.xxx.xxx

You cannot claim lost rent on your taxes. Just be thankful he is gone. --67.22.x.xx

Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. The method follows the matching principle, which says that revenues and expenses should be recognized in the same period. --71.184.xxx.xx

I've already done a lot of the heaviest cleaning, oven, fridge, bathroom, just waiting on handyman finishing wall repairs & painting tomorrow, then I can do floors. --47.133.xxx.xxx

Here vacancy rates are at zero along one per cent on and off where now the industry minimum is 700 and above where some of those on social assistance are at the low 400 usually they have a addition problem. While some claim discrimination the reality is they have a long list of evictions along with unpaid utility bills which disqualifies them immediately as unpaid utilities and unpaid rent go hand in hand together. There people have no concept of reality where a economy only operates where most able bodied people work. Suppose tomorrow in a town or city no one showed up for work then these people would be amazed nothing would be open. A life style of not getting exercise along with smoking and drinking where some use illegal drugs those people have short life expectancy as seen that in the apartment buildings. Living in one of rental units opened up reality for me where you see what goes on. Best to move out of the lower end rental market then deal with people who work for living. Separated utilities screens a lot of them out as they can not sign for utilities. Less drama less problems as people who work care about the way they live. --99.236.xxx.xxx

You've been doing this since at least 2004? Have you not done taxes since then? --99.103.xxx.xxx

Billing whom? We are fixing the place & paying for it ourselves. A 400.00 deposit doesn't go but so far when they owe you for a couple months rent to boot. --47.133.xxx.xxx

You report this to both the IRS and the last know address you have for your tenant --72.23.xxx.xx

After this past unusual year you can bet many of us will be reviewing our practices. Remember we all have different ways of doing things. Pat (VA) is clearly a knowledgeable and successful landlord even if she has decided the hassle of pursuing a monetary judgement is not worth her time. --75.89.xxx.xxx

Pat, google it but I don't believe you can do the 1099 route. I always thought that was for financial institutions, not individuals or businesses. I may be wrong and don't feel like looking it up again. --72.70.xxx.xxx

Nicole, Financial Institutions MUST file 1099-Cs when required. Individuals and Businesses MAY file them if they want. --50.82.xxx.xxx