I have a new 10-unit apartment building coming online June 1st, and my bank has extended my interest-only loan until November before converting to P&I.  The building is 1/4 mile from the hospital, police station and fire station.  We have a list of prospective tenants that could fill the building, but in light of the COVID-19 crisis, I'd like to offer a month's free rent to hospital employees and municipal first responders.  If I provide our local Chamber of Commerce or other 501(c)(3) non-profit with rent vouchers for qualifying hospital employees and first responders, would the foregone rent be tax deductible?  I intend to roll out the program regardless of the tax implications, but am interested if there is something I could do in advance to best structure this. I'm new here.  Thanks!

No- 

You're cash basis. So the result is your income is 1 month's rent less. 

Which would be the equivalent of having 1 months rent deducted against rents. 

So ultimately your taxable burden will be less because you'll show less income but you can't deduct "lost rent"

Thank you @Natalie Kolodij .  That makes total sense!  I appreciate it.