Rent Relief Deduction

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Rent Relief Deduction (by VMB [VA]) Jan 20, 2023 10:51 AM

Rent Relief Deduction (by mike [CA]) Jan 25, 2023 8:39 PM

Rent Relief Deduction (by Steve [MA]) Jan 26, 2023 6:54 AM

Rent Relief Deduction (by VMB [VA]) Posted on: Jan 20, 2023 10:51 AM
Message:

State Specific Question About: VIRGINIA (VA)

For a few of my tenants rent relief was approved but I’ve not received any money. Is that a tax deduction for me? --67.166.xxx.xx

Rent Relief Deduction (by mike [CA]) Posted on: Jan 25, 2023 8:39 PM
Message:

no, but its income for them if they received it and pocketed it. --75.80.xx.xx

Rent Relief Deduction (by Steve [MA]) Posted on: Jan 26, 2023 6:54 AM
Message:

The only way that not receiving their rent could ever end up as a deduction would be if you used the accrual method of accounting.

FYI - Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made. --72.93.xxx.xx

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Rent Relief Deduction

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