 1098 necessary? (by Brad [IN]) Feb 11, 2008 4:49 PM
 1098 necessary? (by Irish [MD]) Feb 11, 2008 5:13 PM
1098 necessary? (by Wallace CPM [VA]) Feb 11, 2008 5:15 PM
1098 necessary? (by Clara [MI]) Feb 11, 2008 6:50 PM
1098 necessary? (by mike [MO]) Feb 12, 2008 5:56 AM
1098 necessary? (by billy button [MA]) Feb 12, 2008 7:29 AM
1098 necessary? (by Jeanette [CA]) Feb 12, 2008 8:21 AM
1098 necessary? (by Brad [IN]) Feb 13, 2008 5:17 AM
1098 necessary? (by Brad [IN]) Posted on: Feb 11, 2008 4:49 PM
Message:
Do I need to send my tenant anything, so he can claim housing expenses (rent he paid me), on his taxes.
If so, what form? Thanks. --207.69.xxx.xx |
1098 necessary? (by Irish [MD]) Posted on: Feb 11, 2008 5:13 PM
Message:
Rent payments are not tax deductable. --71.168.xx.xxx |
1098 necessary? (by Wallace CPM [VA]) Posted on: Feb 11, 2008 5:15 PM
Message:
Tenant -if he is deducting his rent from expenses or taxes needs to do his OWN calculations and you need to provide NOTHING. --72.171.x.xxx |
1098 necessary? (by Clara [MI]) Posted on: Feb 11, 2008 6:50 PM
Message:
Some states, Michigan is one of them, allow a tenant to take a "rent credit" on their State income tax.
Michigan does not require a statement from the landlord. The tenant will fill in the landlord's name and address and the amount of rent paid for the year.
I suppose the state could use that information to verify that we are indeed declaring the rent received on our tax forms. --4.165.xx.xxx |
1098 necessary? (by mike [MO]) Posted on: Feb 12, 2008 5:56 AM
Message:
I give a letter stating how much they paid in rent that year. Many of my tenants do get rent tax credit --24.107.xx.xx |
1098 necessary? (by billy button [MA]) Posted on: Feb 12, 2008 7:29 AM
Message:
i send nothing.they can claim a rent ded on our state taxes but they can figure it iout.never a problem --208.58.x.xx |
1098 necessary? (by Jeanette [CA]) Posted on: Feb 12, 2008 8:21 AM
Message:
California also gives renters a tax credit. Landlords are not required to issue any kind of documentation or "statement". Tenant's are expected to know how much they paid their landlord. Hmmmmm $x times #months....... pretty simple. --66.60.xxx.xxx |
1098 necessary? (by Brad [IN]) Posted on: Feb 13, 2008 5:17 AM
Message:
OK, I thought it was federal, not stae taxes. My state does give rent credit. He was worried about it, since I don't give him receipts when he pays the rent.
Thanks for the responses --4.252.xx.x |
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