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LawTalk, Attorney
Category: Personal Injury Law
Satisfied Customers: 37855
Experience:  I have 30 years of legal and litigation experience.
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Thank you for letting me know that I can take the loss of rent

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Thank you for letting me know that I can take the loss of rent as a deduction on my taxes. I have a couple other questions. One is can I take a deduction for having to use storage facilities while I'm waiting for my tenant to leave because I want to move into my house? Can I also take a loss for having to pay rent and stay somewhere while I'm waiting for the tenant to leave so I can move into my house?

Good morning Marvin,

Thanks for asking for me.

When it comes to business deductions, only actual losses directly relating to the business itself are deductible, I'm afraid.

If a tenant moved out and left a bunch of furniture, and you had to pay to store the tenant’s furnishings, and you did not recover that cost from the former tenant, you could write that off.

But your desire/need to move into the property is not a part of the business of the rental. Rather, it is a loss to you personally, and while it may occur because of a problem with your business, is not a problem ofyour business. I'm sorry, but neither the storage of your belongings, or the rental of temporary accommodations for yourself would be a deductible expense under the tax code.

I hope that you soon are able to reclaim your property, and get settled back in quickly.


LawTalk and 2 other Personal Injury Law Specialists are ready to help you
Thank you once again for your positive rating of my service, Marvin. It is always my pleasure to assist you.

Have a great afternoon.

Customer: replied 4 years ago.
You are most welcome, Doug.