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The IRS has entered the chat 😂
The IRS has bigger fish to fry and they can't even handle them
Subject Expert
I report the proper amount. The payments in Zelle match the amount in the lease.
The depreciation and expenses reduce my rental income to nearly zero, no reason to hide revenue just to save a few hundred bucks.
I report every penny of income and take every deduction.
You’ll get away with this until you don’t. Then you wish you didn’t under-report. Just like EY 1 said, the IRS has entered the chat
There really is no reason to under report the rent receipts. There are plenty of deductions to offset that don’t affect cash flow (e.g. depreciation).
Hmm