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Small Landlords under-reporting rental income

Started by notadmin
over 15 years ago
Posts: 3835
Member since: Jul 2008
Discussion about
is this common in nyc? just curious, did a quick google search and found no research/article regarding this. wonder whether anybody here has any anecdotal evidence on this. thanks!
Response by steveF
over 15 years ago
Posts: 2319
Member since: Mar 2008

Why under report anyway? There are some many legal expense deductions(depreciation, improvement exp, fees, interest, charges etc) that they more than offset any rental income to give you a nice write-off.
Only an ignorant individual would under report rental income.

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Response by notadmin
over 15 years ago
Posts: 3835
Member since: Jul 2008

sure, ok, i re-frame the question: how many ignorant small landlords are around there?

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Response by steveF
over 15 years ago
Posts: 2319
Member since: Mar 2008

motadmin..ok.got a little sidetracked. Don't have a clue.

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