Using Venmo to collect Rent

[Kishan Patel]

Hello all,

I have recently become a landlord and was approached by one of the tenants who was asking whether it would be feasible to pay rent through venmo as they had done previously. My question is if I were to collect rent through venmo, how would I show this money as income for my taxes? 

Thanks!

[Peter Tverdov]

I accept it in one of my apartments. There are limits though. I believe you cannot send more than $2,999 a week or transfer more than $5,000 at a time. So if you have multiple doors, might not work.