3 ms·

This isn’t true, you can’t deduct lost rent as an expense.

• klyrs 3y ago
  Like I said; I'm not sure about all jurisdictions but it's true where I live: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/rental-losses.html https://www.canada.ca/en/revenue-agency/services/tax/busines... New York: https://www.tax.ny.gov/pit/letters/rental-loss.htm https://www.tax.ny.gov/pit/letters/rental-loss.htm
  • ryanwaggoner 3y ago
    No, you can deduct actual expenses, or uncollectible rent. This does not include theoretical rents that you would have received had the property been rented. No part of your deductible expenses is contingent on the market rent, or the last rent you charged.
    • HeyLaughingBoy 3y ago
      > does not include theoretical rents If only you could do that then I might still be a landlord :-)