Where do I go to enter the loss of rental income for a part time home?

Forum|Forum|2 years ago
June 19, 2023
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TurboTax Live Deluxe Online

Best answer by DoninGA

Loss of rental income is not reported on a tax return.

Income that was not received can never be entered as an expense or deduction on a tax return.

DoninGAAnswer

Employee

Loss of rental income is not reported on a tax return.

Income that was not received can never be entered as an expense or deduction on a tax return.

Carl11_2

Employee

From a tax perspective, there's no such thing as "loss of rental income". You only report rental income you actually receive. If you were not paid rent for a period of time for any reason, then you don't have that income to report anywhere on a tax return.

Take note that with an insurance payout on a claim, that payout will usually include an amount for "loss of rent". That specified amount "is" included in the rental income and gets reported as such.