Free month of rent for a new tenant
$0
Can You Write Off Free Month of Rent for a New Tenant?
Short answer: No: a rent concession isn't a deductible expense; you simply report the lower rent you actually collected.
Rental income and expenses go on Schedule E; ordinary costs to manage and maintain the property are deductible in the year paid.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
Free month of rent for a new tenant
$0
Real Estate / Landlords / Property Managers / Agents
No: a rent concession isn't a deductible expense; you simply report the lower rent you actually collected.
Business justification
No: a rent concession isn't a deductible expense; you simply report the lower rent you actually collected. Rental income and expenses go on Schedule E; ordinary costs to manage and maintain the property are deductible in the year paid.
Category
- Rental Property Write-Offs