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Updated 22 days ago on . Most recent reply

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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
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Should the IRS tax tenants who receive cash for keys?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

Tenants who receive cash for keys often don't pay any income taxes on thi. Should landlords support demanding the issuance of 1099 as a way to "reward" tenants for having to pay this form of extortion?

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

if tenants cant pay rent they probably dont make enough to pay income tax or thier tax is taken out of their pay check.. non starter on most levels

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JLH Capital Partners

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