had to you go about getting people taxes at the end of the year for unpaid rent?
2007-07-05 03:37:45 · 3 answers · asked by tater 4 in Business & Finance ➔ Taxes ➔ United States
Unpaid rent is "non income" which has no impact on your income tax return. You report the income that you do receive and the expenses that you pay and depreciation on Schedule E. You are not taxed on what you don't receive.
2007-07-05 03:49:01 · answer #1 · answered by ? 6 · 0⤊ 0⤋
You can't. If someone owes you unpaid rent you'll have to sue to get your money. Normally you'd sue in Small Claims Court. If you win you MAY be able to get a wage garnishment if they don't pay up but you cannot attach a tax refund.
Tax refunds can only be attached for tax debts, child support, or unpaid government-backed student loans. They can never be attached for commercial debts or judgments related to them.
2007-07-05 10:59:14 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can't since the law does not allow for it. You can get a court judgment for the amount but only another government entity can divert a tax payment. ( As for federal taxes only another federal debt. Or something covered under federal law. )
2007-07-05 10:48:27 · answer #3 · answered by ANON 3 · 1⤊ 0⤋