http://www.bidawiz.com/blog/small-business/tax-breaks/is-potential-lost-rental-income-tax-deductible/ Trusted Answers From Licensed Business Professionals Tue, 07 Apr 2015 00:38:25 +0000 http://wordpress.org/?v=2.8.5 hourly 1 http://www.bidawiz.com/blog/small-business/tax-breaks/is-potential-lost-rental-income-tax-deductible/comment-page-1/#comment-25386 The BIDaWIZ Team Fri, 02 Mar 2012 19:45:34 +0000 http://site.bidawiz.com/blog/?p=4361#comment-25386 There are strict rules for meeting the definition of rental property. But, if the property is occupied and the "landlord" doesn't charge rent, the amount of deductible expenses would be limited to the rental income which doesn't exist in this case. So, there wouldn't be a tax break. You can reference IRS publication 17 for further details. There are strict rules for meeting the definition of rental property. But, if the property is occupied and the “landlord” doesn’t charge rent, the amount of deductible expenses would be limited to the rental income which doesn’t exist in this case. So, there wouldn’t be a tax break. You can reference IRS publication 17 for further details.

]]> http://www.bidawiz.com/blog/small-business/tax-breaks/is-potential-lost-rental-income-tax-deductible/comment-page-1/#comment-25379 Jack Fri, 02 Mar 2012 18:42:16 +0000 http://site.bidawiz.com/blog/?p=4361#comment-25379 What about lost rental income while the property is occupied? What about lost rental income while the property is occupied?

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